BUSINESS Chinese shares close lower Friday

BUSINESS

Chinese shares close lower Friday

Xinhua

15:22, February 15, 2019

BEIJING, Feb. 15 (Xinhua) -- Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 1.37 percent, at 2,682.39 points.

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File photos: VCG

The Shenzhen Component Index closed 1.15 percent lower at 8,125.63 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 0.3 percent to close at 1,357.84 points.  

Meanwhile, China's Hushen 300 index futures closed lower on Friday, with the contract for February 2019 down 1.56 percent to finish at 3,353.6 points.

The March 2019 contract lost 1.86 percent to close at 3,352.6 points. The June 2019 contract was down 1.91 percent to finish at 3,350.2 points. The September 2019 contract went down 1.66 percent to finish at 3,332.8 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.  

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