Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 1.24 percent to 3,812.51 points.
The Shenzhen Component Index closed 3.89 percent higher at 12,590.56 points, while the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 6.55 percent to close at 2,958.18 points.
China Global Television Network (CGTN) market analyst Timothy Pope highlighted these trends in his recap of China's stock market performance this week.
"It has been a pretty wild week for Chinese Mainland markets. Thursday, of course, saw a sharp correction -- the worst day on the markets in about five months. But that didn't carry over to today. The Shanghai Composite Index was up [about] 1.25 percent. The Shenzhen Component added almost 4 percent. The stocks causing the big swings actually were largely tech stocks. We saw chip makers in particular, like the bellwether Cambricon, having logged some really astonishing gains over the past couple of months. I mean, Cambricon stock price doubled in August and that sort of meant that some profit taking, a bit of a correction, was probably due," said Pope.
"There was some calm returning to the markets with the PBOC announcing what amounts to a big liquidity injection into the money markets. Of course, liquidity has been fueling a lot of this recent rally. But the volatility and the profit taking haven't really changed the overall trajectory of the A-share markets. They are still rising. And it might actually be that the dip this week has acted as a bit of a release valve for some stocks, which had become a little bit overheated in the last couple of months," he added.
Analyst recaps fluctuating Chinese stock market performance this week
