Asian stocks swung between gains and losses, with the regional benchmark index trading near a five month high, as investors await the outcome of Greek bailout talks amid warnings Europe’s crisis threatens global demand.

Nikkei 225 8,917.52 -11.68 -0.13%

Hang Seng 20,699.19 -10.75 -0.05%

S&P/ASX 200 4,274.2 -21.79 -0.51%

Shanghai Composite 2,291.9 -39.23 -1.68%

In Tokyo, Japan Tobacco rose 5.7% after lifting its full-year net profit forecast, while Dainippon Screen Manufacturing dropped 6.5% after lowering its fiscal year net profit view.

A similar pattern was evident in Sydney with National Australia Bank shares sliding 3.9% on below-view first quarter earnings, while Transurban added 0.1% after reporting a strong first-half profit.

Car makers fell in Shanghai after SAIC Motor posted an 8.5% on-year decline in January vehicle sales. SAIC Motor fell 1.4% and Anhui Jianghuai Automobile slipped 3.4%.