China stock index futures open higher Monday

China's stock index futures opened higher on Monday, with the contract for settlement in August, the most actively traded, opening 9.6 points higher at 2,346 points.

The contract for settlement in September opened 11.8 points higher at 2,355 points. The December contract gained 5.8 points to open at 2,368 points, while the March 2015 contract opened at 2,394 points, up 6 points.

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.