The Shanghai Composite slipped 0.2% to 4,067 on Wednesday, while the Shenzhen Component extended its previous-session advance, rising 1.3% to 15,797, with the benchmarks moving in opposite directions as investors weighed mixed PMI readings pointing to fragile economic momentum. A private survey showed China's Composite PMI rose to a three-month high of 54.0 in May, with the services PMI also reaching a three-month peak of 54.4, albeit the manufacturing PMI fell to 51.8 from April's five-year high of 52.2. Caution lingered after official data showed the Composite PMI edged up to 50.5 from 50.1, supported by a modest rebound in non-manufacturing activity, but the manufacturing PMI slipped to 50.0 from 50.3. Among individual stocks, PetroChina (-1.5%), China Shenhua Energy (-1.6%), and China Life Insurance (-1.0%) led the losses. Meanwhile, technology stocks continued to outperform, with Zhongji Innolight (2.4%), Eoptolink Technology (1.7%), and Huagong Tech (3.2%) posting solid gains.