BEIJING, Nov. 17 (Xinhua) -- Chinese shares closed lower Friday, with investors chasing blue chips while selling smaller stocks to avoid risks.
The benchmark Shanghai Composite Index fell 0.48 percent to 3,382.91 points. The Shenzhen Component Index lost 2.12 percent to close at 11,292.93 points.
Combined turnover of the two boards expanded to 646.2 billion yuan (about 97.5 billion U.S. dollars) from 490.8 billion yuan the previous trading day.
The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dropped 2.36 percent to 1,833.9 points.
More than 100 companies saw their stocks plunge by the daily limit of 10 percent, as investors remained wary of risks after a strong market rally last week.
Kweichow Moutai, China's top liquor brand, shed 4.01 percent to 690.25 yuan per share following a company statement Thursday reminding investors to be rational after its share price reached a new high of 719.11 yuan.
Blue-chip stocks bucked the downward trend. The SSE 50 Index, which tracks 50 stocks on the Shanghai Stock Exchange with large market capitalization and high liquidity, rose 2.06 percent.
Banks and airlines were among the best performing stocks. China Merchants Bank jumped 4.56 percent, while China Southern Airlines climbed 4.15 percent.
