China’s stock market rebounded modestly on Thursday as news of government aid lifted steel and electronics shares. But turnover continued shrinking, suggesting that flows of fresh money into the market were drying up.

The Shanghai Composite Index, which had tumbled 4.72 percent on Wednesday, rebounded 0.78 percent on Thursday to close at 2,227.13 points, after hitting a high of 2,247.62.

But turnover in Shanghai A shares shrank to 108 billion yuan ($15.81 billion) from 134.9 billion yuan on Wednesday and 168.8 billion yuan on Tuesday.