Beijing  - China's stocks closed 2.44 per cent lower on Friday led by trading in shares of banks, property developers and coal producers.

The benchmark Shanghai Composite Index closed at 1,871 points, down 2.44 per cent or 46 points. The Shenzhen Component Index dropped 0.37 per cent, or 24 points, to 6,658.

Losers outnumbered gainers by 594 to 244 in Shanghai and by 503 to 223 in Shenzhen. Combined turnover shrank to 73.51 billion yuan (10.5 billion yuan) from 123.48 billion yuan the previous day. (dpa)