(Yicai Global) Aug. 28 -- Investors snapped up under-valued bank and steel stocks to lift Chinese stock markets to a higher morning close after a dispirited opening.

The Shanghai Composite Index closed up 0.51 percent at 3,367.04 at the lunch bell, while the Shenzhen Component Index rose 1.01 percent to 13,672.35. The ChiNext, which tracks the Shenzhen-listed growth enterprises, was up 0.93 percent to 2,714.15.

Steel shares climbed 1.09 percent, while banks grew 1.34 percent.

Editor: Ben Armour