China stocks open up, key futures contract rises to positive territory
SHANGHAI, July 17 (Reuters) - China stocks rose on Friday, with a key futures contract on the CSI300 Index set for delivery by the close of business finally rising above the level of its benchmark.
Traders and market insiders are closely watching an ongoing struggle between regulators, who are trying to push indexes back up, and bears who are using the futures market to profit from downside returns.
The CSI300 index fell 0.1 percent to 3,994.71 points at 0119 GMT, while the Shanghai Composite Index was unchanged at 3,821.62 points.
China CSI300 stock index futures for July rose 1.3 percent, to 4,029, 34.29 points above the current value of the underlying index.
(Reporting by Pete Sweeney; Editing by Shri Navaratnam)
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