Shanghai shares closed up more than five percent on Tuesday after a rollercoaster ride that saw them at times down by a similar margin.

The benchmark Shanghai Composite Index shot up 5.53 percent, or 224.19 points, to 4,277.22 on turnover of 941.5 billion yuan ($154.0 billion). The Shenzhen Composite Index, which tracks stocks on China’s second exchange, jumped 4.80 percent, or 112.83 points, to 2,464.23 on turnover of 721.4 billion yuan.