China treasury bond futures open mixed Wednesday

China's treasury bond futures opened mixed on Wednesday, with contract for settlement in September opening slightly higher at 93.694 yuan (15.2 U.S. dollars).

The December contract opened at 94.068 yuan, down 0.054 yuan from the previous close. Data on the contract for settlement in March 2015 remained unavailable as of 9:50 local time.

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.

The CFFEX set the base value for the December 2013 contract at 94.168 yuan, the March 2014 contract at 94.188 yuan and the June 2014 contract at 94.218 yuan.