BEIJING, Jan. 16 (Xinhua) -- Major Chinese stock indices ended flat Wednesday, with the benchmark Shanghai Composite Index edging up just 0.07 points to close at 2,570.42.

Despite the slight rally, the benchmark index reached the highest close since Dec. 18, 2018.

The Shenzhen Component Index closed 0.09 percent lower at 7,540.45 points.

Combined turnover of stocks in the two indices shrank to about 305 billion yuan (about 45 billion U.S. dollars) from roughly 320 billion yuan on Tuesday.

The sub-index for newly listed shares rose 2.55 percent, the strongest sector in terms of growth percentage. Four stocks in the sector surged by the maximum percentage allowed.

Shipbuilding was the weakest among all sectors, with the sub-index down 1.58 percent. China Shipbuilding Industry Co. dropped 2.67 percent to 4.38 yuan.

The ChiNext Index, China's NASDAQ-style board, went up 0.08 percent to close at 1,267.3. Enditem

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