(Yicai Global) March 10 -- Rising chip and securities stocks helped pull China's stock markets away from an opening slump this morning after US markets plummeted yesterday.

The Shanghai Composite Index closed for lunch 0.62 percent higher at 2,961.54, while the Shenzhen Component Index rose 0.88 percent to 11,206.56. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, ended the morning at 2,110.45, up 0.83 percent.

Securities shares soared 4.17 percent during the session, while chip stocks jumped 2.12 percent.

US stock markets plummeted yesterday as oil prices slid rapidly following a March 6 meeting in Vienna between the Organization of the Petroleum Exporting Countries and its allied members, where the parties failed to reach a consensus on production cuts.

The Dow Jones Industry Average fell 7.79 percent to 23851.02 yesterday, while the Nasdaq plunged or 7.29 percent to 7,950.68 and the S&P 500 Index slumped 7.6 percent to 2,746.56, triggering a level one circuit breaker and halting trade for 15 minutes.