1st Ld-Writethru: China stocks close mixed Friday

Chinese shares closed mixed on Friday, with the benchmark Shanghai Composite Index extending losses by 0.18 percent, or 8.52 points, to finish at 4,611.74 points.

The Shenzhen Component Index gained 1.18 percent, or 187.50 points, to close at 16,100.45 points.

Total turnover on the two bourses shrank to 1.91 trillion yuan (312.1 billion U.S. dollars) from Thursday's all-time high of 2.4 trillion yuan. Nearly 250 shares rose by the daily limit of 10 percent.

The Shanghai index dived more than 3 percent soon after the opening bell, and then rebounded and hovered around 4,700 points, before edging down because of the financial sector.

On Thursday, the index dived 6.5 percent to finish at 4,620.27 points.

Sun Xiwei, an analyst with CITIC Securities, attributed the declines to news that Central Huijin Investment Ltd., a government-run investment firm, had sold over 3.5 billion yuan of its A-share holdings in two large state-owned banks.

The ChiNext Index, China's Nasdaq-style board that tracks growth enterprises, surged by 3.2 percent, or 109.86 points, to end at 3,542.84 points.

Heavyweight sectors including nonferrous metal, coal and electricity led the gains. Aircraft manufacturing increased by over 4 percent. Media and e-business rose by over 2 percent.

China Spacesat Co. rose by 3.77 percent to end at 73.48 yuan per share. Beijing Enlight Media Co. surged by the daily limit of 10 percent to end at 42.37 yuan.

Sun expects the market will stabilize next week, hovering between 4,300 and 4,600 points, before hitting to another new high. Endi