Chinese shares decline over 1% Friday

Chinese equities close lower  Friday as the government extends further efforts to cool the  overheating property market, which dragged down financial and real estate heavyweights.   

China's long-awaited stock index futures also debuted Friday,  which aims to provide more options for investors and tame market  fluctuations.   

The benchmark Shanghai Composite Index on the Shanghai Stock Exchange ended at 3,130.3 points，down 34.67 points, or 1.1  percent.   

The Shenzhen Component Index on the Shenzhen Stock Exchange  closed at12,416.86 points, down 96.43 points, or 0.77 percent,  from the previous close.   

Total turnover shrank to 187.24 billion yuan ($27.41 billion) from 249.13 billion yuan on the previous trading day.   

Losers outnumbered gainers by 525 to 309 in Shanghai, while  gainers outnumbered losers by 433 to 429 in Shenzhen.

(Source: China Daily)