China treasury bond futures close lower Tuesday

China's treasury bond futures closed lower on Tuesday, with the contract for settlement in December edged down slightly to 93.580 yuan (15.22 U.S. dollars).

The contract for settlement in March 2015 edged down 0.01 percent to close at 93.978 yuan. The contract for settlement in June 2015 dropped 0.05 percent to 94.342 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.