China stock index futures close higher Wednesday

China's stock index futures closed higher on Wednesday, with the contract for December up 0.11 percent from the previous trading day to 2,369.6 points.

The January 2013 contract, the most actively traded, moved up 0.06 percent to 2,383.6 points. The March 2013 contract rose 0.1 percent to 2,413 points, while the June 2013 contract gained 0.11 percent to 2,438.6 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 (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.