A Quick Glance at News

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·     Asian stocks excluding Japan fell on concern Europe’s debt crisis remains unresolved and the U.S. economy is slowing. Gains in Japanese stocks were limited on concern a dispute between China and Japan is worsenin.

·     Asian shares retreated from four-month highs on Tuesday while gold and copper eased, as markets calculated the impact on growth from the Federal Reserve's aggressive stimulus and eyed whether Spain will request a bailout to ease its fiscal strains.

·     China and Japan’s worst diplomatic crisis since 2005 is putting at risk a trade relationship that’s tripled in the past decade to more than $340 billion.

·     Toyota Motor Corp. (7203), Honda Motor Co. (7267) and Nissan Motor Co. halted production at some plants while Panasonic Corp. (6752) reported damage to its operations in China as thousands marched in more than a dozen cities on Sept. 16.

·     Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program.

·     Emerging-market currencies weakened and copper fell for a second day as tensions between China and Japan escalated, New York manufacturing slumped and Spain’s borrowing costs increased. Asian bond risk rose.

·     The Reserve Bank of Australia saw the strength of the local currency and slowing growth in China as risks to the domestic economy, signaling scope to cut interest rates if necessary, minutes of its Sept. 4 meeting showed.

·     Apple Inc. (AAPL) surpassed $700 in late trading yesterday after announcing record first-day orders for the latest iPhone, fueling optimism that the company will keep generating the revenue growth that transformed it from a niche computer manufacturer into the world’s most valuable business.

·     The U.S. unemployment rate would be around 7 percent instead of 8 percent to 9 percent without the current level of doubt among consumers about economic issues including fiscal policy, a Federal Reserve study showed.

·     Oil rose from the lowest close in a week in New York as investors speculated that the biggest drop in two months was exaggerated.

·     Stocks fell on Monday in light trading after a rally that drove the S&P 500 last week to its highest level in nearly five years and as falling oil prices hit energy shares.

·     Brent crude rose to near $114 a barrel on Tuesday, after steep losses in the previous session, but gains were limited as investors weighed the impact of the Federal Reserve's stimulus push on oil demand and eyed China's next step to boost its economy.

·     LG Electronics Inc unveiled its latest high-end smartphone packed with powerful hardware upgrades on Tuesday, as the struggling South Korean firm tries to win market share from Apple Inc and Samsung Electronics Co Ltd in the crucial holiday quarter.