Chinese shares close lower Friday

Chinese stocks closed lower Friday, with the benchmark Shanghai Composite Index down 1.44 percent to 3,599.02 points.

The Shenzhen Component Index closed 2.73 percent lower at 10,833.78 points.

Turnover of stocks covered by the two indices totaled about 1.69 trillion yuan (around 252 billion U.S. dollars), up from 1.56 trillion yuan on the previous trading day.

Shipping, banking, food and beverage stocks were among the gainers, while shares in media and communications declined sharply.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 4.13 percent to close at 2,413.63 points Friday.

Chinese shares close lower Friday

The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 4.66 percent lower at 1,421.31 points on Friday.

The STAR 50 Index, which tracks the 50 largest stocks listed on the board that also meet certain liquidity requirements, closed 5.48 percent lower at 1,160.84 points.

The sci-tech innovation board, commonly known as the STAR Market, was inaugurated in June 2019 at Shanghai Stock Exchange. It is designed to support companies in the high-tech and strategic emerging sectors.

China's STAR Composite Index closes lower Friday