(Yicai Global) Nov. 10 -- China's stock markets gained more support on Friday, with the major indexes reaching respective new 22-month highs during afternoon trading. The trading volume was moderate, but up from the previous day.

Both the benchmark Shanghai Composite Index and the Shenzhen Component Index reached highs not seen since January 2016, but the buying force was not widespread and small-cap stocks gained most support.

At the close, upward sectors outnumbered downward sectors with the liquor-making and telecommunications equipment sectors leading top-performing sectors all day. Support for the semiconductor sector lost some steam in the afternoon trading, following early market gains.

Financial sectors were split, with the insurance sector also among the leaders, though the banking sector remained one of the laggards throughout the day.

Mining sectors including coal, petroleum and nonferrous metals were among the worst performers of the day.

The Shanghai Composite Index was up 0.14 percent to close at 3,432.67 points, it touched 3,438.79 points, a new 22-month high in the afternoon. Turnover was CNY255.8 billion (USD38.59 billion), up from yesterday's CNY205.4 billion.

The Shenzhen Component Index was up 0.79 percent at 11,645.05 points, it also reached a new 22-month high of 11,659.65 points. Turnover grew to CNY312.2 billion, compared with CNY276.7 billion yesterday.

The Growth Enterprise Index, mostly comprising small-cap companies, fared the strongest, it was up 0.88 percent at 1,900.63 points, with CNY86.1 billion swapped, a bit higher than yesterday's CNY78.3 billion.