China stock index futures open lower - April 16

BEIJING - China's stock index futures opened lower on Tuesday, with the contract for settlement in April, the most actively traded, down 14.8 points to 2,426.4.

The contract for settlement in May dropped 18.2 points to 2,423.0. The June contract shrank 23.2 points to open at 2,410.8, while the September contract was down 20.4 points to open at 2,423.8.

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.