Sharp drop in turnover as shares end flat

China stocks closed generally flat on Thursday, while total turnover shrank sharply.

The benchmark Shanghai Composite Index edged up 0.04 percent to 3,320.73 points, while the smaller Shenzhen Component Index fell 0.13 percent to 13,291.32 points.

The ChiNext Composite Index also fell 0.49 percent to 2,622.64 points, and the blue chip CSI300 Index ended 0.26 percent lower at 4,635.71 points.

Trading volume on the two major bourses added up to 881.5 billion yuan (US$126.92 billion), shrinking sharply from the 1.08 trillion yuan in the previous session.

The mainland markets continued to see a net outflow of nearly 2.01 billion yuan to the overseas markets via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.

Stocks of 84 listed firms surged by over 9 percent, while 16 declined by the same amount.

Among industries, the agricultural sector performed well, with Zhongnongfa Seed Industry Group Co, Jinjian Cereals Industry Co and Winall Hi-tech Seed Co all soaring by the daily limit of 10 percent.

Telecommunication shares also posted gains. China United Network Communications rose over 4 percent.

The biotechnology sector, however, led the declines, with Beijing Bohui Innovation Biotechnology Co slumping by the maximum 10 percent and Shanghai Hile Biotenology Co losing nearly 9 percent.

The forest sector and soybean shares were also among big gainers, while stocks related to vaccine and medical service firms retreated.

On the STAR Market, 89 of the 151 listed firms rose while the rest posted losses. CanSino Biologics Inc jumped most sharply by 87.45 percent, while Henan ShiJia Photons Technology Co dropped 12.22 percent to be the biggest decliner.