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Analysts said the price rises of TV panels drive the growth of overall TV prices, which causes a decrease of consumers' purchasing intentions.

Analysts said the impact of P2P platform failures on the entire financial system is limited.

Analysts at China International Capital Corp Ltd said in a research note that A-share valuations could be more attractive after the latest correction and the stock prices will likely be supported by the listed companies' earnings improvements.

Analysts said investor sentiment also rose on the back of the probable tax rate reduction for securities transactions, as proposed by the draft of the Stamp Tax Law released on Thursday.

And foreign companies in Guangzhou have greatly contributed to the city's anti-epidemic work in the past weeks, he added.