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Chinese shares close lower on Friday

Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.04 percent to 3,501.99 points.

The Shenzhen Component Index closed 0.03 percent lower at 14,412.31 points.

The combined turnover of stocks covered by the two indices stood at 876.4 billion yuan (about 135 billion U.S. dollars), down from 972.04 billion yuan on the previous trading day.

Shares of securities and automakers saw strong performances, while the steel, cement and aviation sectors reported sharp losses.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, gained 0.7 percent to close at 2,871.97 points on Friday. 

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