Chinese stocks have struggled for traction since returning from the Lunar New Year break, adding pressure on Beijing to provide more support and restore confidence in an economy grappling with a property slump and stubborn deflation.

The nation’s benchmark CSI 300 Index has been muted in trading this week despite steps motivating share-buying by state funds, as well as a cut to a key mortgage reference rate to help the housing market. Optimism has waned since a rally in markets before the week-long holiday, when investors cheered moves to replace the market regulator and introduce wider trading curbs.