China stock index futures open higher - July 12

BEIJING -- China's stock index futures opened higher on Thursday, with the contract for settlement in July, the most actively traded, opening 0.6 point higher at 2,427.

The contract for settlement in August moved up 3.4 points to open at 2,436.4. The September contract gained 6 points at 2,448.2. The contract for settlement in December climbed 4.2 points to open at 2,474.8.

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

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