Stocks remain flat as traders stay cautious

Chinese mainland stocks again finished right about where they started on Wednesday as investors remained cautious as markets struggled to find a direction.

The blue- chip CSI 300 index rose 0.2 percent to 3,463.64 points.

The benchmark Shanghai Composite Index crept up 0.08 percent to 3,241.76 points, while the Shenzhen Component Index ended 0.11 percent higher at 10,543.01 points.

The indexes have been trapped in a narrow range over the past month, with investors conflicted by signs of economic strength and lingering doubts over whether the recovery can go on.

“China’s economy had a pretty good performance in January and February. March data will be crucial as investors are anxious for any hint on whether the recovery is sustainable,” said Linus Yip, strategist at First Shanghai Securities.

Sector performance was mixed. Gains were led by infrastructure and material shares, which gained support from the continued strength of commodities, while financial plays lost ground in the mainland stock market.

Start- up board index ChiNext steadied, as index heavyweight Leshi Internet reversed earlier losses to end up 6 percent after plumbing a more than 18- month low, posting its best day in two months.

In Hong Kong, the Hang Seng index fell 0.15 percent to 23,792.85 points. The energy shares led the decline as lower oil prices dragged down the sector, while property stocks continued to outperform in the Hong Kong market.