BEIJING, May 22 (Xinhua) -- Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 1.89 percent, at 2,813.77 points.
The Shenzhen Component Index closed 2.22 percent lower at 10,604.97 points.
The combined turnover of stocks covered by the two indices stood at 592.72 billion yuan (about 83.55 billion U.S. dollars), shrinking from 626.18 billion yuan seen in the previous trading day.
Losers outnumbered gainers 1,196 to 267 on the Shanghai bourse and 1,736 to 417 in Shenzhen.
Stocks in the rare earth sectors led the gains, with Jiaozuo Wanfang Aluminum Manufacturing Co., Ltd. surging by the daily limit of 10 percent to end at 4.35 yuan per share.
Companies in the sectors of graphite electrode, liquor and spirits, and pharmaceuticals led the losses.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 2.52 percent to close at 2,046.60 points Friday. Enditem