China's major A-share market opened lower on Monday trading over continued concerns over the spread of omicron domestically.

The benchmark Shanghai Composite Index closed 0.13 percent lower on morning session after slipping by more than 1.6 percent on in early trading. 

The Shenzhen Component Index was down 1.07 percent while the ChiNext Index dipped 1.63 percent.

Digital currency, non-ferrous metal and gas stocks dragged the market down while stocks of real estate, coal and tourism rose. 

Real estate shares rallied on Monday with over 10 stocks hitting the daily upper limit.

Coal stocks also joined the rally with China Shenhua rising more than 8 percent to total the value of more than 580 billion yuan ($90 billion).

The FTSE China A50 Index quickly pared losses to 0.8 percent after falling as much as 2.54 percent

As of 11.30 am the Hang Seng Technology Index extended gains to more than 3 percent after falling nearly 2 percent in early trading with shares of Meituan rising more than 13 percent and those of Kuaishou and  Alibaba gaining more than 5 percent.

The Shanghai stock exchange on Sunday night has announced to offer online services over IPO approval meetings and allow listed firms to apply for postponing releases of full-year earnings until April 30 among other measure to ensure stable market operation.

Shanghai has announced  limited access to residential communities and the suspension of transportation in half the city for mass testing due to Omicron spike, the measures will be in effect from March 28 to April 1.

Global Times