China treasury bond futures close lower Friday

BEIJING: China's treasury bond futures closed lower on Friday, with the contract for March 2019 closing 0.09 percent lower at 99.79 yuan (about 14.81 US dollars).

The contract for settlement in June 2019 closed 0.08 percent lower at 99.72 yuan. The contract for settlement in September 2019 closed 1.08 percent lower at 98.76 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price on a 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.