China stock index futures close lower Monday

China's stock index futures closed lower Monday, with the contract for January, the most actively traded, down 1.63 percent to close at 3,537.6 points.

The February contract went down 1.86 percent to end at 3,576 points. The March contract fell 1.77 percent to finish at 3,617 points. The June contract closed 1.44 percent lower at 3,666 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.