Mainland China share market closed down on Wednesday, 20 August 2014, amid profit booking after the benchmark index surged to eight-month high yesterday. The benchmark Shanghai Composite closed 5.12 points down at 2240.21 after raising to intraday peak of 2248.94. Turnover decreased to 139.63 billion yuan from yesterday's 155.44 billion yuan.
The Chinese market has risen about 13% from this year's low as monetary easing, accelerated government spending and gains in manufacturing spur speculation the nation will meet its 7.5% economic expansion target.
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