China Hushen 300 index futures close lower Wednesday

China's Hushen 300 index futures closed lower on Wednesday, with the contract for May 2016 down 0.17 percent to finish at 3,125.80 points.

The June 2016 contract lost 0.01 percent to close at 3,086.80 points. The September 2016 contract was down 0.37 percent to finish at 2,972.00 points. The December 2016 contract went down 0.28 percent to finish at 2,898.40 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 contracts at 3,399 points.