China stock index futures close lower

China's stock index futures closed lower on Friday, with contract for March, the most actively traded, down 5.4 points from the previous trading day to close at 2,100 points.

The April contract lost 12.4 points to end at 2,083 points. The June contract shrank 11 points to end at 2,072.4 points, and the September contract went down 11.8 percent to 2,059.4 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.