China shares plunged, briefly touching correction territory in volatile trade, but analysts aren't paying it much attention.
"(I) don't think this is the beginning of the end. It's a correction which has been overdue for a long time," Xavier Denis, global strategist at SG Securities, told CNBC. "China is in good shape."
The mainland's markets have tested traders' nerves this week. After plunging 6.5 percent Thursday, the Shanghai Composite's early session Friday took a roller coaster ride, trading down as much as 4.1 percent and pushing the index officially into correction territory before recovering to trade up 0.4 percent after the midday break.
A slew of factors shared the blame for the volatility, including brokerages pulling back on margin lending, profit-taking after sharp gains this year, traders pulling out funds to participate in upcoming initial public offerings (IPO), large follow-on share sales and China's central bank withdrawing liquidity from the financial stability.
But analysts who have been positive on the market are shrugging off the selloff.
"A-shares have tended to be highly volatile," Kevin Ferriter, an analyst at Capital Economics, said in a note Friday.
"We expect this to be the case in the future."