Asian shares were mixed Tuesday ?Chinese data disappointed and worries about Turkey eased slightly after the country's central bank announced a raft of measures aimed at soothing markets.
The Shanghai Composite was down 0.2 percent after a slew of Chinese data on industrial output, retail sales and fixed asset investment came in below expectations. The Hang Seng closed 0.7 percent. July retail sales were up 8.8 percent when compared with a year ago, down from June 9.0 percent. Industrial production advanced an annual 6.0 percent, unchanged from June. Fixed asset investment grew 5.5 percent from a year earlier after increasing 6.0 percent the month before. .
The Nikkei and Topix jumped 2.3 percent and 1.6 percent after Turkey's central bank pledged to provide liquidity and cut reserve requirements for banks. Exporters led the surge, with Toyota, Panasonic, Canon, Honda Motor and Sony climbing. Softbank rallied on a report that the company is in talks to invest up to $750 million in Zume ?a startup that makes fresh pizzas with the aid of robots.
The S&P/ASX advanced 0.8 percent while the All Ordinaries ended up 0.7 percent at 6,386.20. Higher Dalian iron ore prices boosted miners, with BHP Billiton advancing. Shares of Whitehaven Coal advanced after the miner reported a nearly 30 percent increase in full-year profit on improved volumes and higher prices for thermal coal. ANZ advanced after its impaired assets fell in the third quarter. National Australia Bank gained despite the bank warning of additional provisions relating to regulatory compliance. Commonwealth Bank and Westpac both rallied.
The Kospi added 0.5 percent ?stocks bounced back from a 15-month low hit the previous day as concerns over Turkey's economic woes eased. The Sensex added 0.6 percent even as the rupee hit a record low against the US dollar on expectations of a possible spill over effect from a financial crisis in Turkey.