China stocks open mixed Tuesday after Shanghai-Hong Kong stock connect launch

Chinese shares opened mixed on Tuesday following the official launch of the Shanghai-Hong Kong stock connect pilot program on the previous trading day.

The benchmark Shanghai Composite Index (CSI) opened almost flat at 2,474.18 points.

The Shenzhen Component Index opened at 8,264.4, down 19.41 points, or 0.23 percent.

The program, which gives investors mutual market access to the other's stock market, marked a significant move toward a more open capital market in the Chinese mainland.

However, the official launch has failed to boost shares on Monday amid mixed reactions. On Monday's trading, the benchmark Shanghai Composite Index dropped 0.19 percent to finish at 2,474.01 points. Hong Kong stocks also moved down by 1.21 percent to close on Monday at 23,797.08 points.

Analysts said that the mainland stock market has surged previously, to a large extent in anticipation of the launch, which has overdrawn the positive impacts of the Shanghai-Hong Kong program.

The Shanghai Composite Index had climbed more than 8 percent in the previous three weeks ending last Friday.