China stock index futures close higher - Oct 16

BEIJING -- China's stock index futures closed higher Tuesday with the contract for October, the most actively traded, up 0.16 percent from the previous trading day to 2,298.8 points.

The November contract climbed 0.13 percent to close at 2,311 points. The December contract gained 0.13 percent to 2,325 points, while the March 2013 contract moved up 0.25 percent to finish at 2,367 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 both gains and declines in the market.

The index futures was launched at the China Financial Futures Exchange and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.