China’s stock index futures closed lower

China’s stock index futures closed lower Tuesday with the contract for September, the most actively traded, down 1.97 percent from the previous trading day to 2232.4 points.

The October contract shed 1.99 percent to close at 2,247 points.

The December contract slid 1.76 percent to 2,275 points, while the March 2013 contract moved down 2 percent to finish at 2,310.4 points.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from both gains and declines in the market.

The index futures was launched at the China Financial Futures Exchange and started trading from April 16, 2010.

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