The blue-chip CSI300 index rose 0.9%, to 4,908.77, while the Shanghai Composite Index gained 0.8% to 3,547.34 points.
For the week, the CSI300 index lost 1%, the most in five weeks. The Shanghai Composite Index shed 1%, the biggest weekly decline in one month.
The tech-focused STAR50 Index finished up nearly 3%.
Shares in consumer staples, information technology and healthcare gained between 1.6% and 2.2%.
The media sub-index surged 3.5%, fuelled by the theme of “Metaverse”.
Facebook Inc is now called Meta, the company said on Thursday, in a rebrand that focuses on building the “metaverse”, a shared virtual environment that it bets will be the successor to the mobile internet.
Shares of Chinese real estate firms dropped for a fifth straight session, losing 3.5%.
For the week, they were down 11.5%, the most since February 2018.
A planned pilot real-estate tax scheme dented risk appetite in the sector while rating agencies downgraded more Chinese developers.
“We anticipated further earnings estimate reductions through the 3Q results season, due to sustained PPI inflation, power shortages, and Delta-variant Covid outbreaks,” Morgan Stanley analysts said in a note.
They added that the relaxation of liquidity in the equity market is unlikely to happen until the end of this year, if not later.
