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Chinese shares close lower Friday

Xinhua | Updated: 2018-08-03 16:59
An investor monitors stock market on a computer at a securities brokerage in Jiangxi province on Aug 2, 2018. [Photo/IC]

BEIJING - Chinese stocks continued to decline Friday, with the benchmark Shanghai Composite Index down 1 percent to close at 2,740.44.

The Shenzhen Component Index closed 2.03 percent lower at 8,602.12.

More than 2,400 stocks fell on the two bourses, with combined turnover at 284.8 billion yuan ($41.4 billion).

The ChiNext Index, China's NASDAQ-style board of growth enterprises, was down 1.89 percent to close at 1,481.61.

Cement producers led the market declines. Fujian Cement slumped 6.45 percent, while Anhui Conch Cement dropped 3.65 percent.

Liquor makers also saw heavy losses, with Kweichow Moutai shedding 2.42 percent and Luzhou Laojiao slipping 4.36 percent.

Coal firms bucked the downward trend. Zhengzhou Coal Industry and Electric Power surged by the daily limit of 10 percent, while China Coal Energy rose 5.47 percent.

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