The mainland market saw a 1.25 percent setback on Tuesday, with the Shanghai Composite Index falling below 2,300 again, suggesting investors are still to be convinced of the promised economic recovery.

Experts suggest the market is likely to remain flat until mid-April, when the government releases data about the quarterly economic performance.

Analysts share the view that year-on-year GDP growth is unlikely to climb past 8 percent in the first quarter of 2013, from 7.9 percent in the last quarter of 2012.