1st LD-Writethru: Chinese shares close lower Friday

BEIJING, May 4 (Xinhua) -- Chinese stocks closed lower on Friday despite better-than-expected economic data.

The benchmark Shanghai Composite Index went down 0.32 percent to end at 3,091.03 points, and the Shenzhen Component Index closed 0.31 percent lower at 10,426.19 points.

Combined turnover on the two bourses stood at 360 billion yuan (about 56.5 billion U.S. dollars), down from 407.5 billion yuan the previous day.

A Caixin survey showed on Friday that growth in China's service sector picked up in April after hitting a 4-month low in March as new business and employment expanded at a faster pace.

The Caixin General Services Business Activity Index came in at 52.9 in April, up from 52.3 in March. A reading above 50 indicates expansion, while below 50 represents contraction.

Heavyweights including securities and banks led the declines. China Merchants Bank went down 1.9 percent to end the day at 28.74 yuan, while Bank of Hangzhou lost 1.13 percent to 11.37 yuan.

Bucking the trend, pharmaceuticals surged across the board, with Zhejiang Hisun Pharmaceutical Co. Ltd surging 6.18 percent to end at 15.97 yuan.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 0.65 percent to close at 1,814.85 points Friday. Enditem