SYDNEY (Reuters) - Asia share markets tried to regain their footing on Tuesday as tremors from the collapse of the Turkish lira ebbed a little and Wall Street proved resilient to the shockwaves.
FILE PHOTO: Pedestrians crossing a road in front of an electronic board showing various stock prices outside a brokerage are reflected in a polished stone surface, in Tokyo May 13, 2014. REUTERS/Yuya Shino/File Photo
Japan's Nikkei .N225 led the early running with a gain of 1.0 percent, while Australia added 0.4 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat having found support above the July low of 525.52. EMini futures for the S&P 500 ESc1 edged up 0.2 percent, while 10-year Treasury yields held at 2.88 percent US10YT=RR.
Investors were encouraged that falls on Wall Street were only minor. The Dow .DJI ended Monday down 0.5 percent, while the S&P 500 .SPX lost 0.40 percent and the Nasdaq .IXIC 0.25 percent. [.N]
Chinese economic data could provide a distraction with July retail sales, industrial output and urban investment all due.
Forecasts favor a slight pick up in activity while the outlook should be supported by Beijing’s recent efforts to encourage lending and boost infrastructure spending.
Turkey's lira found a moment's respite at 6.9500 per dollar TRYTOM=D3 after the country's central bank said it would provide liquidity and cut reserve requirements for banks.
Yet it still lost almost 10 percent on Monday alone and has shed more than two-fifths of its value so far in 2018.
The rot spread to the South African rand and the Argentine peso. Argentina’s central bank surprised by raising interest rates by 5 percentage points on Monday, but it was still
