(Yicai Global) Oct. 22 -- Chinese stock markets closed up today after a rapid rise in the price of technology shares this afternoon.

The Shanghai Composite Index closed at 2,954.38, up 0.5 percent, while the Shenzhen Component Index finished 0.93 percent higher at 9,642.09. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, added 1.36 percent to end the day at 1,666.87.

Tech stocks were 3 percent higher on average when the market closed.