China Hushen 300 index futures open lower Wednesday

BEIJING -- China's Hushen 300 index futures opened lower on Wednesday, with the contract for settlement in August 2020 opening 0.75 percent lower at 4,650.6 points.

The September 2020 contract opened 1.01 percent lower at 4,608 points. The December 2020 contract opened 1.02 percent lower at 4,542.6 points. The March 2021 contract opened 0.84 percent lower at 4,509 points.

The stock-index contracts, agreements to buy or sell the blue-chip Hushen 300 Index at a preset 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.