BEIJING -- China's stocks rose for the fifth consecutive day on Friday, wrapping up the week with the best weekly gain in more than a year.

The benchmark Shanghai Composite Index rose 1.55 percent, or 37.80 points, to close at 2,473.41. The index rallied 6.74 percent in the week, the highest since Oct 18.

The Shenzhen Component Index shot up 2.31 percent, or 238.70 points, to close at 10,561.99.

Combined turnover expanded sharply to 192.1 billion yuan ($30.25 billion) from 141.89 billion yuan on the previous trading day.

Market sentiment was boosted by speculation of loosening property purchase restrictions and the euro zone debt package. Gainers outnumbered loser by 895 to 31 in Shanghai and 1,305 to 43 in Shenzhen.