BEIJING, Aug. 29 (Xinhua) -- Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.37 percent to 3,857.93 points.

The Shenzhen Component Index closed 0.99 percent higher at 12,696.15 points.

The combined turnover of these two indices stood at 2.8 trillion yuan (about 394.2 billion U.S. dollars), down from 2.97 trillion yuan on the previous trading day.

During Friday's trading, shares of lithium battery makers rose sharply, with liquor and financial stocks also posting strong gains, while chip stocks suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 2.23 percent to close at 2,890.13 points on Friday. ■