(Yicai Global) May 18 -- Gold firms in China's mainland stock markets surged this morning as the international gold price kept pushing eight-year highs during the session while chipmakers retreated from their early gains.

The Shanghai Composite Index closed for lunch 0.61 percent higher at 2,885.83, while the Shenzhen Component Index was at 10,994.58, up 0.27 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, ended the morning up 0.44 percent at 2,133.63.

The gold sector shot up nearly 5 percent led by Chifeng Jilong Gold Mining [SHA:600988], which hit 10 percent limit up to reach CNY10.27 (USD1.45). International gold prices are up 1 percent at USD1,760.4 per ounce, their highest since November 2012.

Editor: James Boynton