China stock index futures open mixed - May 29

BEIJING - China's stock index futures opened mixed on Tuesday, with the contract for settlement in June, the most actively traded, up 2.2 points to open at 2,597.

The contract for settlement in July rose 5 points to open at 2,597.2. The contract for settlement in September gained 5 points to open at 2,606, while the contract for settlement in December was unchanged at 2,627.2.

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 (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.