Shanghai exchange launches China's first index futures

China's first index futures contract ended its Friday debut on the Shanghai-based China Financial Futures Exchange (Cffex) up 0.49%, while the spot index declined 1.13%. Analysts say the launch of China's first stock index futures - along with a corresponding measure allowing investors to short-sell shares listed on the cash market - will enable investors to hedge their positions in the spot market for the first time. Cffex has been engaged in mock trading of futures on its key CSI 300 index