China's stock index futures open slightly up Wednesday

China's stock index futures opened slightly higher on Wednesday, with the contract for settlement in February 2013, the most actively traded, flat at 2,779.

The contract for settlement in March 2013 rose 2.6 points to 2,796.2, while the contract for settlement in June 2013 opened at 2824.6, up 4 points. The contract for settlement in September 2013 opened 2.2 points lower at 2,848.4.

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.