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Chinese stocks rebounded on Friday afternoon from a lacklustre morning, led by financial shares, which analysts expect to benefit from increasing bullishness about mainland markets.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.4 per cent to 3,892.57, while the Shanghai Composite Index gained 1.0 per cent to 3,617.32 points.
For the week, the CSI300 rose 7.6 per cent, while SSEC was up 7.25 per cent, their biggest weekly gains in three months.
The CSI300 Financials sub-index jumped nearly 3 per cent, with brokerages CITIC Securities, China Merchants Securities and Western Securities all up more than 8 per cent.
Analysts attributed the gains in part to signs of resurgent trading volumes and margin financing, and to expectations of further monetary easing.
Among the most active stocks in Shanghai were Bank of China , up 2.6 per cent at 4.38 yuan; Agricultural Bank of China, up 2.0 per cent at 3.55 yuan and China Railway Group, up 3.2 per cent at 10.32 yuan.
In Shenzhen, BOE Technology, up 2.9 per cent at 3.94 yuan; TCL Corp, up 1.0 per cent at 5.89 yuan; and Shenwan Hongyuan, up 4.5 per cent at 17.95 yuan, were among the most actively traded.
Total volume of A shares traded in Shanghai was 51.5 billion shares, while Shenzhen volume was 29.7 billion shares.
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