China bourses flat, banks down, industrials up

China stocks closed steady on Monday, with gains in industrial shares offsetting falls in the banking sector as a slew of interim corporate results showed tentative signs of bottoming-out in struggling sectors such as coal and steel.

The blue-chip CSI300 index was unchanged at 3,307.78, while the Shanghai Composite Index was also flat, at 3,070.03 points.

As of last Friday, over 2,000 China-listed companies had released interim results, while the remainder will publish earnings this week.