Shanghai stocks close up 5.76% on government moves

China's benchmark Shanghai stock index closed up 5.76 percent on Thursday, powering higher in volatile trading after the government unveiled more policies to boost the market, dealers said.

The Shanghai Composite Index surged 202.14 points to 3,709.33 on turnover of 673.3 billion yuan ($110.1 billion). It fell as much as 3.81 percent and rose up to 6.88 percent during the day -- an overall range of more than 10 percent.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, ended up 3.76 percent, or 70.90 points, to 1,955.35 on turnover of 277.6 billion yuan.