(Yicai Global) Jan. 27 -- China's mainland stock markets rebounded in afternoon trading, led by internet firms, above all those linked to the short video platform run by Kuaishou Technology, which has started its initial public offering in Hong Kong.

The Shanghai Composite Index closed 0.11 percent higher at 3,573.34. The Shenzhen Component Index ended at 15,413.84, up 0.4 percent, and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, rose 0.7 percent at the finish at 3,281.03.

Beijing-based Kuaishou supplier Capitalonline Data Service [SHE:300846] hit the 20 percent limit again today to stop trading at CNY27.72 (USD4.27) following a 20 percent rise yesterday.

Kuaishou delivered its prospectus to the Hong Kong Stock Exchange yesterday. It plans to raise up to HKD42 billion (USD5.4 billion) in its IPO in the Chinese special administrative region’s biggest share sale since e-commerce giant Alibaba Group Holding more than a year ago.

Other internet firms which cooperate with Kuaishou also rode upward on its coattails. Zhejiang Jinke Culture Industry [SHE:300459], Shenzhen Infinova [SHE:002528] and Hunan-based Tvzone Media [SHA:603721], all surged at least 10 percent during the day.

Editor: Ben Armour