China stock index futures close higher Monday

China's stock index futures closed higher on Monday, with the contract for September surging 2.46 percent from the previous trading day to 2,340 points.

The October contract rallied 2.54 percent to finish at 2,345.6. The December contract moved up 2.43 percent to 2,350.2 points, while the March 2014 contract gained 2.38 percent to end at 2,362 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 either gains or 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.