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Chinese shares slumped 1.92 percent on Friday, dragged down by banks and property developers.

The benchmark Shanghai Composite Index dropped 35.94 points, or 1.92 percent, to close at 1,839.62. The Shenzhen Component Index slid 166.35 points, or 2.63 percent, to 6,158.95.

Losses outnumbered gains by 667 to 182 in Shanghai and 536 to 184 in Shenzhen.