(Yicai Global) April 8 --  China's stock markets walked back some of their lowest dips today .

The Shanghai Composite  Index closed 0.05 percent lower at 3,244.81 points. The Shenzhen  Component Index fell 0.6 percent to 10,351.87. The ChiNext Index, which  tracks growth enterprises in Shenzhen, closed 2.1 percent lower at  1,739.66.

Investors accelerated  profit-taking after an over three-month period of price gains. The  Shanghai Composite Index, which tracks the eastern Chinese city's stock  exchange, jumped to a 12-month high in the morning, which may have  triggered the selloff. 

Kweichow Moutai's  stock price [SHA:600519] rose 4.1 percent to CNY900.20 (USD134),  catapulting the liquor maker's market cap to exceed CNY1.3 trillion   (USD193.5 billion). The Guizhou-based firm expects its revenue to have  risen 20 percent in the first quarter in comparison to last year, and  its net profit to have grown about 30 percent.

Kweichow Moutai's equity  has cumulatively gained about 70 percent since early January as  investors weighed on the firm's projections that a short supply will  become the new normal. 

Editor: Emmi Laine