A Quick Glance at News

v Asia’s benchmark stock index swung between gains and losses as increases at consumer companies offset drops in exporters after weaker German business confidence curbed the outlook for sales to Europe

v The MSCI Asia Pacific (MXAP) Index has climbed 8.1 percent this year compared with a 16 percent gain on the S&P 500 Index and a 12 percent jump on the Stoxx Europe 600 Index. The Asian benchmark traded at 12.7 times estimated earnings compared with 14.1 for the S&P 500 and 12.1 for the Stoxx Europe 600

v China’s Shanghai Composite Index dropped 0.4 percent. Losses were limited by gains among securities firms after regulators sped up approvals for foreign investors to buy domestic stocks.

v Germany’s governing coalition showed growing exasperation with Spain, with a senior ally of Chancellor Angela Merkel saying Spanish Prime Minister Mariano Rajoy must stop prevaricating and decide whether Spain needs a full rescue from its debt.

v Europe’s crisis-fighting stalemate amid discord over a banking union, Greece’s ongoing debate on how to meet bailout commitments and foot-dragging by Spain on possible aid.

v Diplomats from China and Japan are meeting today amid tensions over a territorial dispute, as Chinese and Taiwanese vessels entered waters near the islands at the center of the spat.

v Oil and metals rebounded after a benchmark commodities gauge yesterday almost erased gains for the year. Japan’s stocks rose before a deadline on dividends while Australia’s dollar rallied.

v Australian households are building a financial cushion by repaying mortgages faster and saving more, while businesses are indicating renewed willingness to borrow, the nation’s central bank said

v Standard & Poor’s cut its 2012 forecast for China’s growth by half a percentage point to 7.5 percent, saying the government has not introduced stimulus sufficient to sustain an 8 percent growth rate. The government is concerned about re-igniting inflation and a property bubble, the ratings company said in a statement yesterday.

v A Chinese factory owned by iPhone assembler Foxconn resumed production on Tuesday after a riot involving 2,000 workers had forced it to close for 24 hours, in an incident that put Chinese labor conditions back under the microscope.

v Google Inc shares set an all-time high on Monday, with the Web giant's reliable advertising business back in vogue among Wall Street investors disenchanted with younger social media companies.

v Google Inc said it began selling its Nexus 7 tablet in Japan on Tuesday, with a starting price of 19,800 yen ($250).

v Struggling cellphone maker Nokia unveiled on Tuesday two new touch-screen cellphone models to strengthen its offering for the mass market.