China stock index futures close lower Tuesday

China's stock index futures closed lower on Tuesday with the contract for September, the most actively traded, closing 1.72 percent lower at 2,394.2 points.

The October contract tumbled 1.82 percent to end at 2,399.8 points. The December contract fell 1.8 percent to end at 2,415 points. The March 2015 contract closed 1.73 percent lower at 2,437.2 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.