By Jonathan Davies

Shares in Asia tumbled to two-year lows on Wednesday as markets continue to worry over the Chinese economy.

Shanghai Composite Index fell as much as 5% at one point, a day after dropping 6.1%. But shares were up 1.2% at the end of trading after the Chinese central bank intervened with new measures to appease investors' concerns.

Last week, the central bank began to devalue the Chinese yuan in an attempt to boost economic growth.

A string of weaker economic data have cast huge doubts over China's ability to maintain the huge growth seen over the past 25 years. Earlier this year, China's economic growth slumped to 7% - still one of the strongest rates of growth in the world, but the country's slowest for the past quarter of a decade.

That, in turn, has dented investment confidence leading to maintained spells of falls for Chinese stocks.

In Japan, shares were down 0.5% and South Korea's Kospi index lost 1.3% of its value.