Mumbai, Aug. 28 -- Chinese stocks closed lower on Friday as investors turned cautious over fresh US pressure on China.

The Shanghai Composite fell 0.11% to 3,952.2, while the Shenzhen Component dropped 0.68% to 13,953.1. Concerns grew after US President Donald Trump indicated that Chinese banks could face sanctions. Reports of a possible 7.5% US tariff on Chinese goods also added to the pressure.

The weaker mood came despite preparations for Chinese President Xi Jinping's planned US visit next month. Several major stocks fell, including Industrial Bank, Wuxi AppTec, CATL, Eoptolink Technology and NAURA Technology.

For the week, the Shanghai Composite gained 1.2%, while the Shenzhen Component declined 1.0%.

Published by HT Digital Cont...