Shanghai shares closed up nearly two percent on Friday after authorities suspended a "circuit breaker" mechanism that automatically shut Chinese markets early twice this week.

The benchmark Shanghai Composite Index rose 1.97 percent, or 61.41 points, to 3,186.41 on turnover of 324.2 billion yuan ($49.4 billion), but still ended the week almost 10 percent lower.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.05 percent, or 20.63 points, to 1,978.72 on turnover of 437.4 billion yuan. It slumped more than 14 percent over the week.