SHANGHAI, Nov 29 (Reuters) - 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.
** Profits at China's industrial firms grew at a faster pace in October, providing a buffer for a faltering economy battered by soaring raw material prices. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)
