BEIJING - Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.48 percent to 2,704.09 points.

The Shenzhen Component Index closed 0.88 percent lower at 7,983.55 points.

The combined turnover of stocks covered by the two indices stood at 524.7 billion yuan (about $73.9 billion), up from 515.6 billion yuan recorded on the previous trading day.

Shares related to the ship-building sector led the gains, while the liquor-making industry suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.07 percent to close at 1,535.17 points Friday.