China's benchmark stock index ends higher this week despite global tech sell-off: analyst

China's benchmark Shanghai Composite Index rose 1.3 percent this week to end a little bit lower than 4,000 points on Friday despite global tech sell-off, said a market analyst.

Chinese stocks closed lower Friday, with the benchmark Shanghai Composite Index down 0.25 percent to 3,997.56 points.

The Shenzhen Component Index closed 0.36 percent lower at 13,404.06 points.

Timothy Pope, a market analyst for China Global Television Network (CGTN), highlighted the trend behind the numbers in his recap of China's stock market performance.

"We had a choppy day of trade on the Chinese mainland markets today, but for most of the session, despite increased volume and turnover, the markets didn't really seem to go anywhere. The Shanghai Composite Index hung around above 4,000 points for quite a bit of the session before closing at 3,997, down a quarter of 1 percent, but ultimately the trading band was very narrow. The index has been able to shrug off a lot of the global market jitters this week surrounding tech stocks. I have now lost count of the number of articles I've read and podcasts I've listened to over the past two weeks asking if AI stock is a bubble that's about to burst and comparing it to the dot-com bubble. So, there's clearly some anxiety out there, but while investors did continue to take profits on tech stocks on the Chinese mainland it hasn't really put much of a roadblock in the way of the market as a whole. The Shanghai Composite Index ended the week 1.3 percent higher, while we saw a lot of other tech heavy indices around the world taking quite a hit," he said.

"The gains this week continued to come from materials and energy companies. Today's top percentage gainer was a bio-diesel producer Longyan ZhuoYue New Energy. It was up 20 percent, and the top contributor to gains was the old-school oil refiner PetroChina," he added.

"Investors today also had to digest the latest export numbers. They seemed to suggest buyers of Chinese products might be done front-loading purchases ahead of tariffs. But that's something we knew was coming, and the task now will be to broaden that domestic demand," he said.

China's benchmark stock index ends higher this week despite global tech sell-off: analyst

Canadian Prime Minister Mark Carney arrived in Beijing on Wednesday for an official visit to China through Saturday.

This visit marks the first trip to China by a Canadian Prime Minister in eight years.

When briefing on the visit of Carney, a Chinese foreign ministry spokesperson said President Xi Jinping will meet with the Canadian prime minister to provide new strategic guidance for further improving and developing China-Canada relations.

Chinese Premier Li Qiang and Chairman of China's National People's Congress Standing Committee Zhao Leji will hold separate talks and meetings with the Canadian prime minister to conduct comprehensive and in-depth exchanges on bilateral relations as well as issues of mutual interest.

The spokesperson said China looks forward to taking this visit as an opportunity to enhance dialogue and communication, increase political mutual trust, expand practical cooperation, properly manage differences, address each other's concerns and consolidate the momentum of improvement in China-Canada relations to bring greater benefit for the two peoples.

Canadian PM arrives in Beijing for official visit