The Chinese mainland's stock market had a new mover on Monday, as recently formed Baowu steel resumed trading. The new company was created by the merger of state-owned Bao Steel and Wuhan Steel in 2016.

Baowu is the world's second largest crude steel producer by annual output. Analysts said the resumption of trading on Monday is a catalyst for the steel industry as it may help lift the valuation of the sector. Analysts also believe that Baowu's larger scale of production would raise the plant's bargaining power in the steel industry.