China's benchmark stock index fell to a two-week low as energy producers declined on lower oil prices, overshadowing a gain by Citic Securities Co on speculation that a resumption of initial public offerings would boost revenue.

China Petroleum & Chemical Corp slid 1.6 percent to a three-week low, while China Shenhua Energy Co lost 3.3 percent on concerns that gains for this year overvalued prospects for an economic recovery. Citic Securities, trading for the first time this week, added 1.3 percent after the Shanghai Securities News reported on Monday that China may restart IPOs in June.

"Most investors are still gauging the impact of new share sales and want to see more economic data to decide on whether to buy," said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co.