China treasury bond futures open lower Monday

China's treasury bond futures opened higher on Monday, with contract for settlement in December opening 0.002 yuan lower at 94.7 yuan (15.35 U.S. dollars).

The contract for settlement in March 2015 lost 0.052 yuan to open at 95.05 yuan, while the June 2015 contract opened at 95.2 yuan, down 0.2 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.