Stocks end 1.5% higher after day of volatile trade

Stocks in China posted their biggest intraday swings since 2010 on Friday as transactions on the mainland's exchanges exceeded 1 trillion yuan ($163 billion) and the benchmark index traded near four-year highs.

The Shanghai Composite Index ended 1.5 percent higher at 2,942.23 points after rising as much as 2.7 percent and falling 3 percent during the day.

"The market is becoming very speculative," said Wang Zheng, the Shanghai-based chief investment officer at Jingxi Investment, which oversees about $120 million. "Such a rally is unsustainable for sure. The market will be in for a very wild ride up and down next week."