Beijing: Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 2.45 percent to 3,834.89 points. The Shenzhen Component Index also saw a decline, closing 3.41 percent lower at 12,538.07 points.

According to Namibia Press Agency, the combined turnover of these two indices reached nearly 1.97 trillion yuan (about 278 billion U.S. dollars), marking an increase from 1.71 trillion yuan on the previous trading day. While shares related to shipbuilding posted gains, sectors such as lithium mines and nonferrous metals experienced significant losses.

The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, fell by 4.02 percent to close at 2,920.08 points on Friday.