Chinese shares close lower Friday

BEIJING - Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 2.48 percent, at 2,882.30 points.

The Shenzhen Component Index closed 3.15 percent lower at 9,000.19 points.

Combined trading volume of the two exchanges stood at 573.7 billion yuan ($83.3 billion), expanding from 522.21 billion yuan the previous trading day.

Losers outnumbered gainers by 1372 to 76 on the Shanghai bourse, and 1949 to 173 in Shenzhen.

Companies in the motorbike manufacturing industry were among the biggest losers.

Lifan, a major motorbike manufacturer in China, saw its price drop by 9.93 percent to 5.35 yuan a share.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 3.58 percent to close at 1,478.75 points.