The Shanghai Composite fell 0.15% to close at 3,864, while the Shenzhen Component gained 1.02% to 12,908 in mixed trade on Wednesday, with mainland markets struggling for clear direction amid a lack of fresh domestic catalysts. Investors looked ahead to China’s Central Economic Work Conference in December for new policy signals for the year ahead. Technology and AI-linked stocks continued to outperform, with strong gains from Zhongji Innolight (13.3%), Eoptolink Technology (8.7%), Victory Giant (4.5%), Cambricon Technologies (4.3%) and Foxconn Industrial (4.1%). In corporate news, Alibaba reported stronger-than-expected 34% growth in its cloud business, helping offset a sharp profit decline as the company increased spending on consumer subsidies and data centers to capture AI-driven demand.