Shanghai stocks close up 1.23% in volatile trading

The benchmark Shanghai Composite Index added 45.95 points to 3,794.11 on turnover of 599.5 billion yuan ($93.7 billion). The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 2.19 percent, or 47.63 points, to 2,222.05 on turnover of 547.1 billion yuan. After the collapse, the government intervened with a rescue package that included funding the state-backed China Securities Finance Corp. (CSF) to buy stocks on behalf of the government.