China stock index futures open mixed Wednesday

China's stock index futures opened mixed on Wednesday, with the contract for settlement in June, the most actively traded, down 0.8 points from the previous close to 2,404.

The contract for settlement in July dropped 1 point to open at 2,392.4. The September contract rose 14.8 points to 2,417, and the December contract opened 0.8 points higher at 2,428.2.

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.