China stock index futures close higher

China's stock index futures closed higher on Monday, with the contract for November, the most actively traded, up 2 percent to finish at 2,466.4 points.

The December contract added 1.96 percent to 2,468.0 points. The contract for March 2014 rose 1.88 percent to 2,476.4 points, while the contract for June 2014 closed 1.93 percent higher at 2,477.4 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 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.