GLOBAL MARKETS-Asia tries to find its footing, China disappoints [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
GLOBAL MARKETS-Asia tries to find its footing, China disappoints | Reuters Reuters Staff 4 Min Read * Nikkei bounces 1.1 pct after Wall St losses limited * Chinese data mostly softer than forecast * Turkish lira holds for the moment, but crisis not over * Euro finds some support, yen and Swiss franc favoured * Gold loses safe-haven status, near 13-month low By Wayne Cole SYDNEY, Aug 14 (Reuters) - Asian share markets fought to regain their footing on Tuesday as tremors from the collapse of the Turkish lira ebbed, though sentiment took a fresh knock when Chinese economic data proved softer than expected. Retail sales, industrial output and urban investment all grew by less than forecast in July, a trifecta of disappointment that underlined the need for more policy stimulus in China. The Shanghai blue chip index was off 0.6 percent and weighing on MSCI’s broadest index of Asia-Pacific shares outside Japan which eased 0.2 percent. Japan’s Nikkei held onto its early 1.1 percent gain, whil
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