China stock index futures close higher Monday

China's stock index futures closed higher on Monday, with the contract for August 2013, the most actively traded, up 3.05 percent from the previous trading day to 2,348.4 points.

The September 2013 contract rose 3.21 percent to 2,344.0. The December 2013 contract gained 3.14 percent to 2,344.2 points, while the March 2014 contract went up 2.95 percent to 2,346.4 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 (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.