Beijing: Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.97 percent to 3,990.49 points. The Shenzhen Component Index also saw a decline, closing 1.93 percent lower at 13,216.03 points.

According to Namibia Press Agency, the combined turnover of these two indices stood at nearly 1.96 trillion yuan (about 276.74 billion U.S. dollars), which was a decrease from the 2.04 trillion yuan recorded on the previous trading day. Shares related to water and gas utilities, furniture, and paper products led the gains, whereas those related to ceramics and textile machinery experienced major losses.

Additionally, the ChiNext Index, which tracks China’s Nasdaq-style board of growth enterprises, lost 2.82 percent to close at 3,111.51 points on Friday.