China stock index futures open lower Tuesday

BEIJING -- China's stock index futures opened lower on Tuesday, with the contract for settlement in July, the most actively traded, down 3.2 points from the previous close to 2,129.8.

The contract for settlement in August dropped 0.2 point to open at 2,134.8. The September contract dropped 5.0 points to 2,135.0, and the December contract opened 1.2 points lower at 2,167.8.

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.