Mainland Chinese stocks ended flat on Monday, with the Shanghai Composite closing at 3,368, while the Shenzhen Component was little changed to 10,171, as investors assessed a batch of mixed economic data. April’s retail sales growth slowed and fell short of expectations, reflecting weak domestic consumption and sluggish income growth. However, industrial output beat forecasts but slowed from March’s pace, while the unemployment rate edged down. Meanwhile, markets turned cautious as China described recent trade talks with the US as “good,” but remained vague on future steps, while Trump hinted at a possible call with President Xi. Investors now await upcoming PBOC decisions on key lending rates, with expectations of a 10 bps cut for both the one-year and five-year loan prime rates. Notable gainers included Avic Chengdu (+3.4%), Naura Technology (+1.5%), and Guangdong Haid (+1.3%), while Kweichow Moutai (-2.2%) and BYD Company (-1.6%) posted steep losses.