Shanghai stocks closed up more than three percent on Wednesday, rebounding after three consecutive sessions of losses on worries of a market rout.

The benchmark Shanghai Composite Index rose 3.44 percent, or 126.17 points, to 3,789.17 on turnover of 557.5 billion ($91.17 billion). The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 4.13 percent, or 87.11 points, to 2,198.81 on turnover of 523.1 billion yuan.