BEIJING -- Chinese stocks closed sharply higher on Friday, as the central bank's unexpected interest rates cut was taken as a boost to the weak market and the slowing economy.

The benchmark Shanghai Composite Index gained 1.01 percent, or 22.23 points, to close at 2,223.58.

The Shenzhen Component Index closed at 9,690.16, up 2.95 percent, or 277.52 points.