* Chinese yuan up 0.4%
* Asian stocks mixed
* Turkish lira touches record low

By Himanshi Akhand
       June 27 (Reuters) - Asian currencies tracked China's
yuan to edge higher on Tuesday,  as speculation that Chinese
authorities are seeking to slow the pace of yuan depreciation
boosted risk sentiment and prompted investors to shift focus
from global growth concerns.
    The Philippine peso, the South Korean won
and the Malaysian ringgit appreciated between 0.2% and
0.6%. 
    "Despite the negative sentiment from U.S. equities
overnight, in terms of FX markets it is actually the yuan
recovery that is driving Asian currencies today," said Khoon
Goh, head of Asia research at ANZ.
    The spot yuan appreciated 0.4% after the People's
Bank of China (PBOC) set the daily yuan fixing rate stronger
than market expectations for a second day.
    The stronger fixing coincided with selling of dollars in the
offshore spot market by China's major state-owned banks,
according to sources, suggesting authorities wanted to slow the
pace of the yuan's recent slide.
    The yuan has been weighed down by China's faltering economic
growth and markets have been expecting a basket of supportive
measures from Beijing before they make stronger bets on a
recovery.
    "The yuan is the anchor currency for the region, so the run
of weakening yuan since May had put a lot of pressure on other
regional currencies. The fact that we finally saw Chinese
authorities sending a signal that they're seeking to slow down
the pace of the yuan's depreciation has helped turn things
around a little bit," Goh added.  
    Meanwhile, Singapore's dollar firmed 0.2%. It fell
0.1% on Monday after data showed that the city-state's
industrial output in May fell 10.8% year-on-year, the eighth
consecutive contraction and below forecast.
    "Being highly sensitive to external demand, a low-for-longer
growth outlook for Singapore seems to be the takeaway, with a
dimmer economic outlook and a global tech downcycle at play," IG
market analyst Yeap Jun Rong wrote. 
    Stocks in the region were mixed, as Wall Street lost ground
overnight as investors digested the aborted Russian mutiny over
the weekend and wrestled with lingering concerns over the path
of Federal Reserve monetary policy. 
    Stocks in Manila and Bangkok rose 0.1% and
0.2%, respectively, while equities in Seoul and Taiwan
 lost 0.2% and 0.8%, respectively.
    Geopolitical turmoil has dampened risk appetite following
the aborted mutiny in Russia over the weekend. President
Vladimir Putin paid tribute to pilots killed, confirming for the
first time that Russian aviators had been lost in battle as the
Wagner mercenary group marched on Moscow.    
    The rouble was last down 0.5% after sinking to its
lowest in nearly 15 months.
    Turkey's lira touched a record low against the dollar, after
an official and bankers said the central bank had stopped using
its reserves to support it.  
    The lira weakened as much as 1% to 26.172 per U.S.
dollar.    
    
    HIGHLIGHTS
    ** Philippines agrees $1.14 bln loans with World Bank for
environment, farming.  
    ** China's growth to be higher in Q2, projected to hit
annual 5% target - Premier Li.
    
  Asia stock indexes and currencies                       
 at 0452 GMT                                        
 COUNTRY   FX RIC          FX     FX  INDE  STOCKS  STOCKS
                      DAILY %  YTD %     X   DAILY   YTD %
                                                 %  
 Japan                  +0.02  -8.62  <.N2  -0.58   24.58
                                      25>           
 China                               EC>           
 India                  +0.10  +0.93  <.NS    0.22    3.47
                                      EI>           
 Indonesi               +0.05  +3.75  <.JK    0.01   -2.71
 a                                    SE>           
 Malaysia               +0.19  -5.60  <.KL   -0.14   -7.19
                                      SE>           
 Philippi               +0.58  +0.49  <.PS    0.12   -0.54
 nes                                  I>            
 S.Korea                             11>           
 Singapor               +0.24  -0.73  <.ST    0.41   -1.50
 e                                    I>            
 Taiwan                 -0.01  -1.00  <.TW   -0.76   19.75
                                      II>           
 Thailand               +0.00  -1.68  <.SE    0.24  -10.77
                                      TI>           
 

    
 (Reporting by Himanshi Akhand in Bengaluru; Additional
reporting by Nausheen Thusoo; Editing by Robert Birsel)