Chinese equities opened slightly lower on Friday as all contracts of the long-waited stock index futures rose on its first trading day.

The benchmark Shanghai Composite Index went down 0.17 percent to open at 3,159.67 points.

The Shenzhen Component Index edged down 0.08 percent to 12,503.47 points.

The stock index futures aims to provide more options for investors and tame market fluctuations.

The contract for May was bid at 3,450 points at its opening, up 51 points from its benchmark 3,399 point