SHANGHAI — Chinese markets finished the week on a slightly higher note after a turbulent week of trading — and halts in trading.
The Shanghai Composite Index finished up 2 percent at 3,186.41, recovering from a 7 percent plunge on Thursday. It finished down 10 percent for the week, its worst performance since August.
Shenzhen’s index finished the day up 1 percent and the blue-chip CSI300 index of Shanghai and Shenzhen companies was up 2 percent at 3,361.56.
China’s central bank strengthened the yuan’s official rate on Friday, helping to calm the markets. The Chinese currency had reached its lowest level in five years on Thursday.
Elsewhere, the Hang Seng Index finished up 0.59 percent, and South Korea’s Kospi rose 0.7 percent. The Nikkei 225 lost 0.39 percent.
After Chinese markets introduced a circuit-breaker mechanism on Jan. 1, trading was halted on both Monday and Thursday following falls in the CSI 300 index of Shanghai and Shenzhen stocks of more than 7 percent triggered the new mechanism.
On Thursday evening, Chinese regulators announced the circuit breaker would be suspended for the time being, after many blamed the mechanism itself for fueling panicked selling before trading suspensions.