The Shanghai Composite fell 0.4% to around 4,100 while the Shenzhen Component dropped 0.8% to 14,090 on Monday, extending losses from the previous session as investors digested January manufacturing data. A private survey showed factory expansion accelerated last month, with manufacturers ramping up production and loading cargoes ahead of the extended Lunar New Year holiday.
The reading reduces expectations for immediate policy support from Beijing, although an official survey released over the weekend showed a surprise contraction in both manufacturing and services activity. Mining stocks led the decline amid a metals selloff, with sharp losses from Zijin Mining (-5.2%), CMOC Group (-4.1%) and Hunan Gold (-6.7%). Tech shares also came under pressure, including Zhongji Innolight (-5%), Suzhou TFC (-2.5%) and BlueFocus Intelligent (-3.1%).
