However, market gains capped amid worries over the economic fallout from the coronavirus variant after the major Chinese city of Xi'an entered a lockdown on Thursday as authorities seek to control a flare-up of Covid cases.
At close of trade, the benchmark Shanghai Composite Index advanced 0.57%, or 20.72 points, to 3,643.34. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.18%, or 4.45 points, to 2,524.74. The blue-chip CSI300 index advanced 0.7%, or 34.29 points, to 4,948.74.
Resource stocks were among the top gainers in the bourse, with rare earth-related firms leading the charge after reports that China has set up a national rare earths company that will operate under the state asset regulator. Shares of China Minmetals Rare Earth Co, which will hold 20.3% of the newly-established conglomerate, inched up 0.3%.
Three firms started trading for the first time on the mainland. Yongan Futures Co soared 44%, Nantong Chaoda Equipment surged 117% and Henan Carve Electronics Technology jumped 78%.
CURRENCY NEWS: China's yuan was little changed against the U.S. dollar on Thursday after firmer mid-point fixing by the central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.3651 per dollar, 0.08% firmer, than the previous fix of 6.3703. In the spot market, the onshore yuan CNY=CFXS was changing hands at 6.3708 per dollar, 0.01% down from the previous late session close.
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