China treasury bond futures close higher Monday

China's treasury bond futures closed higher on Monday, with the contract for settlement in December rising 0.158 yuan to 93.580 yuan (15.23 U.S. dollars).

The contract for settlement in March 2015 rose 0.172 yuan to close at 93.992 yuan. The contract for settlement in June 2015 gained 0.57 yuan to 94.390 yuan.

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

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