China stock index futures open lower Wednesday

China's stock index futures opened lower Wednesday, with the contract for settlement in November, the most actively traded, down 0.8 point to open at 2,383.8.

The contract for settlement in December opened at 2,381.6, down 4.4 points. The March 2014 contract dropped 6 points to 2,390.6, while the June 2014 contract opened 2.4 points lower at 2,394.8.

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.