China shares mixed in morning trade

Chinese stocks were mixed in morning trade Monday as investors remained cautious about the impact of the newly-launched stock option trading and the upcoming new stock offers.

China's first option contract the SSE50 ETF Option started trading on the Shanghai Stock Exchange (SSE) on Monday, which analysts say is expected to benefit brokerage firms and futures companies.

A total of 24 initial public offerings (IPOs) are scheduled this week, which could divert funds from existing shares.

The benchmark Shanghai Composite Index opened lower and lost 0.35 percent in the first hour of trading. The Shenzhen Component Index opened higher and gained 0.28 percent during the first hour.