China treasury bond futures close higher

BEIJING: China's treasury bond futures closed higher on Wednesday, with the contract for settlement in June 2017 up 0.02 percent to 98.42 yuan (14.3 US dollars).

The September contract closed 0.06 percent higher at 98.025 yuan. The December contract ended 0.05 percent higher at 97.63 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date.

They allow investors to bet on and profit from the movements in the value of the bonds.

The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange and started trading on Sept. 6, 2013.