China stock index futures open lower Wednesday

China's stock index futures opened lower on Wednesday, with the contract for settlement in March, the most actively traded, down 17.4 points to open at 2,140.6.

The contract for settlement in April dropped 7.8 points to 2,152. The June contract opened 12.4 points lower at 2,146.8, while the September contract opened 14.4 points lower at 2,145.

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.