Stock markets in Shanghai and Shenzhen parted ways Thursday as faltering manufacturing figures cut into sentiment.
The benchmark Shanghai Composite Index shed 3.79 points, or 0.17 percent, to close at 2,174.12; while the Shenzhen Component Index rose 26.81 points, or 0.31 percent, to finish at 8,718.2.
Combined trading volume at the two exchanges totaled just 121 billion yuan ($19.65 billion) Thursday, down from 140 billion yuan last Friday, the last day of trading prior to the Labor Day holiday.
The indices opened lower on a weaker-than-expected purchasing managers' index (PMI) for April. China's official PMI eased to 50.6 in April, down from a final tally of 50.9 in March and marking the lowest reading in three months, the National Bureau of Statistics revealed Wednesday. Analysts had been predicting an official PMI readout of 51 for the month, according to reports from Reuters.
This disappointing indicator called the pace of China's economic recovery into question and weighed on most of the market's pillar sectors.
Resource stocks were rocked both by signs of sluggish factory output as well as recent sell-offs in the international commodities market. Jiangxi Copper Co lost 2.88 percent to 20.24 yuan. In the coal sector, China Shenhua Energy Co slipped 1.07 percent to 20.27 yuan. Among non-ferrous metals shares, China Minmetals Rare Earth Co gave up 8.04 percent to 9.66 yuan.
Liquor stocks were dragged down as well Thursday. Jiugui Liquor Co declined 6.44 percent to 19.31 yuan.
On the plus side, several media sector stocks were able to walk away with wins. Shanghai New Culture Media Group Co surged past the 10-percent daily limit to 39.38 yuan.
Among individual stocks, Shanghai-listed electricity company Shenyang Jinshan Energy Co broke through the daily limit to 6.24 yuan after posting a 95-percent rise in profits during the first quarter.
With the Shanghai Composite Index lingering around the 2,200-point mark for the past month, sentiment may perk in May as bargain hunting sets in, analysts said Thursday.