Addis ababa: Chinese stocks experienced an upswing on Friday, with the benchmark Shanghai Composite Index rising by 0.71 percent to reach 3,950.31 points. The Shenzhen Component Index also saw significant gains, closing 2.02 percent higher at 13,289.18 points.

According to Namibia Press Agency, the combined turnover of the Shanghai and Shenzhen indices amounted to 1.97 trillion yuan, approximately 278.34 billion U.S. dollars. This marked an increase from the previous trading day’s turnover of 1.64 trillion yuan.

The market’s rise was primarily driven by shares in storage chips and semiconductors, which led the gains. In contrast, stocks in sectors such as coal mining and processing, along with gas extraction, recorded substantial losses. The ChiNext Index, which tracks China’s Nasdaq-style board of growth enterprises, climbed 3.57 percent to close at 3,171.57 points on Friday.