China's stock index futures open higher Friday

China's stock index futures opened higher on Friday, with the contract for settlement in January 2013, the most actively traded, up 10.8 points to 2568.2.

The contract for settlement in February 2013 opened higher at 2580.4, while the contract for settlement in March 2013 opened at 2592.4, up 9.8 points. The contract for settlement in June 2013 opened 16.8 points higher at 2627.

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.