China stock index futures close up -- May 18

Updated: 2011-05-18 16:47
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BEIJING -- China's stock index futures closed higher Wednesday with the contract for May, the most actively traded, up 0.5 percent from the previous close to 3,134.

The June contract gained 0.48 percent to 3,148.2 points. The September contract increased 0.55 percent to 3,190.8 points and the December contract closed up 0.51 percent to 3,235.

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.