China stock index futures close higher - May 22

BEIJING - China's stock index futures closed higher Tuesday, with the contract for June, the most actively traded, up 1.06 percent from the previous trading day to 2,607.6 points.

The July contract increased 1.08 percent to 2,611.8 points. The September contract added 1.05 percent to 2,623 points, while the December contract was up 1.1 percent to finish at 2,652 points.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from both gains and declines in the market.

The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.