China 2-year treasury bond futures close higher Tuesday

BEIJING, April 2 (Xinhua) -- China's 2-year treasury bond futures closed higher Tuesday, with the contract for June 2019 closing at 100.29 yuan (about 14.93 U.S. dollars), surging from Monday's close of 100.265.

The contract for settlement in September 2019 closed 0.04 percent higher at 100.2 yuan. The contract for settlement in December 2019 closed higher at 100.865 yuan, compared with Monday's close of 100.79 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 Aug. 17, 2018.