China's Hushen 300 index futures closed lower on Thursday, with the contract for January 2016 down 1.2 percent to close at 3,775.2 points. The March 2016 contract lost 1.08 percent to finish at 3,684.4 points and the June 2016 contract lost 1.06 percent to end at 3,564 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.
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