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1st LD-Writethru: Chinese shares close lower Friday

Xinhua, April 15, 2016 Adjust font size:

China's stocks closed lower on Friday as data showed the economy further slowed in the first quarter.

The benchmark Shanghai Composite Index was down 0.14 percent to 3,078.12 points. The smaller Shenzhen index closed 0.35 percent lower at 10,733.64 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.63 percent to close at 2,309.68 points.

Total turnover on the two bourses dropped to 585.4 billion yuan (90 billion U.S. dollars) from 630 billion yuan on the previous trading day.

More than 1,300 stocks on the two bourses lost, with the coal, medical equipment and media sectors all falling into negative territory.

Banking and real estate were among the few sectors that ended Friday's session in positive territory.

The stock market wobble came after a big release of official economic data on Friday. The country's GDP grew 6.7 percent year on year to reach 15.9 trillion yuan, according to the National Bureau of Statistics.

The growth further narrowed from the previous quarter's 6.8 percent, which was already the lowest quarterly rate since the global financial crisis. Endi