China Hushen 300 index futures close lower Friday

China's key Hushen 300 index futures ended lower on Friday, with the contract for June, the most actively traded, down 1.6 percent to close at 4,897 points.

The July contract lost 1.5 percent to end at 4,896 points. The September contract declined by 1.47 percent to finish at 4,911 points. The December contract lost 1.46 percent to 4,930 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.