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Analysts urge caution as stocks on Shanghai's new Nasdaq-style tech board surge

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The first tranche of companies on China's latest Nasdaq-style tech board started trading on Monday, with all the stocks seeing strong gains on their public debut, though some are cautioning against jumping headlong into the action.

"I think this market, it needs to ... basically take a little bit of patience to develop," Eugene Qian, president of UBS Securities, told CNBC's "Squawk Box" on Monday.

It's easier for firms to go public in the new STAR Market tech board, compared to listing on the Shanghai A-share market, as companies need to go through a registration instead of waiting for regulatory approval which could take longer. J.P. Morgan's Chief China Economist and Head of China Equity Strategy, Haibin Zhu, urged investors to "focus on individual companies."

UBS Securities' Qian said foreign investors are likely to watch "with a lot of interest" but will likely "wait a little bit out."

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