Chinese shares dip almost 3% on Friday

China's equities dropped nearly 3 percent Friday on weak heavyweights, ending the week lower to conclude a fourth weekly decline.

The benchmark Shanghai Composite Index fell 2.91 percent, or 85.71 points to finish at 2,860.69.

The Shenzhen Component Index lost 3.76 percent, or 447.66 points, to end at 11,450.08.

Combined turnover shrank to 207.38 billion yuan ($30.5 billion) from 231.60 billion yuan on the previous trading day.

Source: BizChina