The blue-chip CSI300 index fell 0.3% to 4,813.27, while the Shanghai Composite Index edged up 0.2% to 3528.15.
US Federal Reserve Chairman Jerome Powell signalled the central bank will remain patient as it tries to nurse the economy back to full employment and gave no new clues on the start of bond-buying taper. He made the comments virtually at the Fed’s annual Jackson Hole, Wyoming, economic symposium.
Investors are eyeing PMI data this week to see whether policymakers would step up support.
A sub-index tracking resource-related stocks rose 2.5% to its highest in six years, after China’s top listed steelmaker Baoshan Iron & Steel Co Ltd reported its highest ever quarterly net income.
The new energy sub-index and the new energy vehicle sub-index gained 3.4% and 1%, respectively, after China’s top lithium producer Tianqi Lithium Corp posted its first net profit in two years as prices for the commodity used in electric-vehicle (EV) batteries rebounded strongly from a protracted slide.
The defence sub-index finished up 3.7%. A US warship and a US Coast Guard cutter sailed through the Taiwan Strait on Friday, and China on Saturday called the move “provocative.”
Shares of China’s state-backed data centre service providers surged, as the Chinese city of Tianjin asked municipally-controlled companies to migrate their data from private-sector operators to a state-backed cloud system by next year.
The real estate sub-index dropped 4%, after industry giant China Vanke Co Ltd posted weak earnings results amid a tightening property sector.
A sub-index tracking banks fell 1.9%.
