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China stock index almost flat, turnover surges

(Agencies)
Updated: 2009-02-11 15:43

China's main stock index closed almost flat in massive turnover on Wednesday, as profit-taking from this year's 24-percent rally was offset by new money flooding into the market on hopes for an early economic recovery.

Expectations that the government would provide fresh aid to industrial sectors once again helped the Chinese market to outperform foreign markets, which slid on disappointment over the latest US financial rescue plans.

The Shanghai Composite Index swung widely between positive and negative territory before closing down 0.19 percent at 2,260.82 points.

Turnover in Shanghai A shares expanded to a nine-month high of 171.8 billion yuan ($25.2 billion) from Tuesday's 135.1 billion yuan.