BEIJING - Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.71 percent to 3,950.31 points.

The Shenzhen Component Index closed 2.02 percent higher at 13,289.18 points.

The combined turnover of these two indices stood at 1.97 trillion yuan ($278.34 billion), up from 1.64 trillion yuan on the previous trading day.

Shares related to storage chips and semiconductors led the gains, while those related to coal mining and processing and gas extraction suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 3.57 percent to close at 3,171.57 points.