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SHANGHAI: China stocks closed down on Monday, as concerns lingered about the newly discovered and possibly vaccine-resistant coronavirus variant, while analysts anticipated limited impact on China’s A shares.

The blue-chip CSI300 index fell 0.2%, to 4,851.42, while the Shanghai Composite Index was flat at 3,562.70 points.

The Omicron coronavirus variant has spread around the world even as more countries imposed travel restrictions to try to seal themselves off.

Guosheng Securities said the new variant has become an uncertainty for markets and investors should remain cautious in the short term and wait for the other shoe to drop.

Zheshang Securities said the new variant would have limited impact on A shares due to China’s strict coronavirus containment measures.

Tourism stocks slumped 3.4% due to a resurgence of COVID-19 infections in China and the new variant.

Real estate developers and energy shares dropped more than 1.2% each.

Coal miners retreated 1% after the National Development and Reform Commission (NDRC) said it has summoned key coal miners for advices on improving coal prices mechanism.

COVID-19-related healthcare stocks rose, jumping as much as 15%, with some companies saying their test kits remained effective for the new variant.

The new energy sub-index and the defence sub-index gained 1.7% and 2.3%, respectively.

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