China stock index futures open higher Tuesday

BEIJING -- China's stock index futures opened higher on Tuesday, with the contract for settlement in May, the most actively traded, up 7 points to 2,534.8.

The contract for settlement in June gained 8.8 points to 2,529.8. The September contract climbed 10.2 points to open at 2,538.6, while the December contract opened 8.8 points higher at 2,558.8.

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 and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.