The Shanghai Composite Index has recorded an increase of 0.6 percent on Friday on optimism among investors that the Chinese economy might be recovering from eh slowdown.

The index rose 0.6 percent this week after it fell below 2,000 points in during the first three days of the week. The shares revived this week to record first weekly gain in three weeks after Vice-Premier Li Keqiang indicated that the government will look for deeper market reforms in the world's second-largest economy.

The CSI300 Index of the top Shanghai and Shenzhen shares closed 0.7 percent higher today and recorded an increase of 0.7 percent on the week at 2,192.7 points. The Hang Seng Index was flat at 21,532.75 and the Hang Seng China Enterprises Index slipped 0.2%.

The Asian shares had increased after Chinese manufacturing data showed that the country’s manufacturing activity increased. China's manufacturing recorded its first rise in 13 months indicating a recovery trend in the Chinese economy following its prolonged slowdown after the 2008 global financial crisis. The HSBC monthly Purchasing Managers' Index improved to 50.4 for November. A PMI of more than 50 indicates expansion and less than 50 indicates contraction.