BEIJING - China's stock index futures closed slightly lower on Friday, with the contract for October down 0.32 percent from the previous trading day to 2,515.4 points.

The November contract, the most actively traded, fell 0.12 percent to close at 2,521.2 points. The December contract lost 0.16 percent to 2,523.4 points, while the contract for March 2012 shed 0.21 percent to finish at 2,548 points.

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.