(Yicai Global) Jan. 15 -- Chinese mainland equities closed little changed after rebounding from earlier losses thanks to last-hour bargain hunting.

The Shanghai Composite Index ended up 0.01 percent at 3,566.38, after falling almost 1 percent in the early afternoon, while Shanghai’s Star Market Board 50 Index rose 0.02 percent to 1,447.58, pulling up from a more than 1 percent drop.

After retreating 2 percent, the Shenzhen Component Index closed 0.25 percent lower at 15,031.70. The ChiNext Price Index, which tracks growth stocks in Shenzhen, rose 0.02 percent to 3,089.94. It had fallen more than 2 percent.

Trading over the past five days was volatile, with major benchmarks touching new multi-year highs midweek. Shenzhen, the market leader since early December, stumbled the most during the downturn in the latter part of the week. It was a tug of war between bulls and bears, with no clear winner until the closing bell today.

The Shenzhen Component Index ended the week 1.88 percent lower, while the ChiNext Price Index lost 1.93 percent. The Shanghai Composite Index fell 0.1 percent. 

The Star 50 was the week’s exception, soaring almost 5 percent. The former laggard drew enough bargain hunters as other markets met with relatively large setbacks.

Editor: Peter Thomas