Stocks continue to gain as trade volume increases
Chinese stocks gained on Friday with a surge in tech firms and high expectations on liquidity.
The benchmark Shanghai Composite Index gained 0.31 percent to close at 3,039.67 points while the Shenzhen Component Index increased 1.05 percent to 11,629.70 points.
Trading volume on the two bourses increased to 1.17 trillion yuan (US$167.3 billion), the third consecutive day with volume over 1 trillion yuan. The increase in trade volume represents recovered market confidence and sufficient capital liquidity.
The GEM (China Growth Enterprise Market) index edged up 1.82 percent to 2,226.64 points. But only 31 of the 90 shares gained in the SSE STAR Market.
Over the week, the major Shanghai index jumped 4.2 percent.
With a gradual resumption of production, government and regulators are expected to protect market confidence through proactive fiscal measures and looser monetary measures, according to CSC Financial.
With new focus on work resumption, tech and related shares will continue being active, such as 5G, new-energy cars and digital city sectors, China Fortune Securities said.