China treasury bond futures open lower Monday

China's treasury bond futures opened lower on Monday, with contract for settlement in June opening at 93.2 yuan (15.15 U.S. dollars), down 0.14 percent.

The contract for settlement in September opened 0.14 percent lower at 93.6 yuan, while the contract for settlement in December dropped 0.10 percent at 93.8 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on or profit from the movements in the value of the bonds.

The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange (CFFEX) and started trading on Sept. 6, 2013.