China stock index futures close lower Friday

China's stock index futures closed lower on Friday, with the contract for September, the most actively traded, down 0.52 percent from the previous trading day to 2,497.2 points.

The October contract dropped 0.48 percent to 2,501.2. The December contract lost 0.52 percent to 2,507.4 points, while the March 2014 contract went down 0.43 percent to 2,519 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.