China treasury bond futures open lower Tuesday

China's treasury bond futures opened mostly lower on Tuesday, with contract for settlement in March 2015 opening 0.04 percent lower at 97.3 yuan (15.91 U.S. dollars).

The contract for settlement in June opened flat at 97.82 yuan, while the contract for settlement in September open 0.2 percent at 98.02 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on or profit from the movements in the value of the bonds.

The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange and started trading on Sept. 6, 2013.