China's Stocks Close Near Intraday Highs Amid Bargain Hunting
Tang Shihua
/SOURCE : yicai

 (Yicai Global) Feb. 12 -- China's stock markets were penned in in afternoon trading, but managed to break out to close near intraday highs as investors continued to scoop up stocks they deemed bargains depressed by the market's downcast mood over the past year.

The Shanghai Composite Index closed up 0.68 percent at 2,671.89 points, while the Shenzhen Component Index inched up 1.15 percent to 8,010.07. The ChiNext Price Index of Shenzhen growth companies closed 1.23 percent stronger at 1,332.27.

Bullish sentiment dominated the market throughout the day, with the upwardly mobile sectors far exceeding those heading south. 

Technology stocks remained the market's darlings, with shares related to alternative/virtual reality, light-emitting diode or organic LED displays, Internet of Things, gene sequencing and vaccine production and cancer-treatment medicine leading the charge.

Distilling, one of yesterday's vanguards, withdrew after coming under profit-taking fire, while large cap sectors such as the insurance, banking and energy sectors continued to straggle.

Editor: Ben Armour 

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Keywords: Stock Market , Shanghai Composite Index , Shenzhen Component Index , ChiNext Price Index