The benchmark Shanghai Composite Index rose 0.32 percent on Friday to close at 3,472.32 points, marking its highest level so far this year.

This may suggest that a bull market driven by China’s economic restructuring is gradually emerging, supported by a package of financial stimulus measures rolled out since September, said Dong Zhongyun, chief economist at AVIC Securities.

In contrast, the Shenzhen Component Index edged down 0.25 percent to finish at 10,508.76 points, while the ChiNext Index — which tracks growth-oriented, tech-heavy companies — slipped 0.36 percent.