BEIJING, Jan. 23 (Xinhua) -- The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 1.85 percent higher at 1,899.78 points on Friday.

The STAR 50 Index, which tracks the 50 largest stocks listed on the board that also meet certain liquidity requirements, closed 0.78 percent higher at 1,553.71 points.

The sci-tech innovation board, commonly known as the STAR Market, was inaugurated in June 2019 at Shanghai Stock Exchange. It is designed to support companies in the high-tech and strategic emerging sectors. ■