Stocks rebound but turnover shrinks

The major stock index rebounded from near major chart support to close flat yesterday, but turnover shrank further as worries about the strength of the economy continued to weigh on the market.

The Shanghai Composite Index ended at 2277.41 points, up 0.03 percent from Wednesday's 20-month closing low. It bounced after falling to an intra-day low of 2249.12, for a second straight day nearing technical support at 2245, its high in the year 2001.

Turnover in Shanghai A shares shrank to 25.7 billion yuan, the lowest since October 2006, from Wednesday's 26.7 billion yuan.