Chinese stocks showed a mixed performance for the fourth consecutive day on Friday after US President Donald Trump denied China's claims that there have been no talks to soothe the effects of the trade war.

The Shanghai Composite Index, the main gauge of Chinese stocks, slid 0.068% or by 2.23 points to 3,295.06. The Shenzhen Component Index gained 0.39% or by 38.74 points to 9,917.06.

"We've been meeting with China," Reuters quoted Trump as saying.

There have been lower-level talks in person and via phone between US and Chinese officials, Reuters said, citing a White House official.

However, Beijing said there have not been any talks regarding the tariffs, saying the US's assertion is "false news," the report said, citing Chinese Foreign Ministry spokesperson Guo Jiakun.

Meanwhile, the Chinese Commerce Ministry is considering exempting some US imports from its 125% tariffs, Reuters reported Friday, citing an anonymous source.

Beijing is asking businesses to identify what US goods could be eligible for tariff exemptions, while the government is preparing to include eight semiconductor-related items, the news agency said.

China's latest move could be the biggest sign it is concerned about the outcome of the tit-for-tat with the US, according to Reuters.

Beijing's Vice Commerce Minister Ling Ji also pledged protection of foreign investors' rights, while adding it opposes US "unilateralism and bullying" as they disrupt global trade and supply chains.

In corporate news, PXI Auto Components (SHE:301560) closed 179% higher during its first trading day in Shenzhen. The high-precision cooler base plate manufacturer priced its initial public offering at 16.50 yuan.

Hisense Visual Technology's (SHA:600060) shares closed 6% lower despite its first-quarter attributable profit jumping 19% to 553.6 million yuan from 466.7 million yuan a year earlier.