TOKYO, June 26- Asian shares turned around a four-day losing streak and rose on Wednesday after China's central bank assured it will offer funds to banks if needed, but lingering fears of a credit crunch and slower loan growth continued to drive selling of Shanghai shares.
Financial stocks fell nearly 2 percent in Shanghai, in turn dragging Japan's Nikkei to close down 1 percent after a solid start, overshadowing positive data from the United States underscoring an American recovery. China's short-term borrowing rates eased for a fourth day but remained at elevated levels, and some traders expected liquidity to remain tight until mid-July.
European stocks were seen flat to slightly higher, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX would open up to 0.2 percent firmer. But U.S. stock futures were down 0.2 percent, pointing to a less confident Wall Street open.