SINAGPORE, June 24 — Asia’s benchmark stocks gauge swung between gains and losses as the earnings outlook for Japanese exporters was boosted by the yen weakening against the dollar, while raw-material suppliers fell as concerns remain about a cash crunch in China.

Toyota Motor Corp, the world’s largest carmaker, gained 0.9 per cent in Tokyo. BHP Billiton Ltd, the No. 1 mining company, declined 2.1 per cent, dragging Australia’s S&P/ASX 200 Index lower.

AMP Ltd. tumbled 8.3 per cent after Australia’s largest life insurer and pension manager said it expects profit will fall as much as 16 per cent.

The MSCI Asia Pacific Index slid 0.1 per cent to 127.66 as of 9.27am in Tokyo, before markets in Hong Kong and mainland China open. About three shares gained for every two that declined.

The measure fell 2.3 per cent last week amid concern that US stimulus is nearing an end and that interbank lending in China is worsening.

Japan’s Topix Index climbed 1 per cent as the yen fell 0.4 per cent to 98.27 per dollar.

Australia’s S&P/ASX 200 Index declined 0.9 per cent and South Korea’s Kospi index slid 0.6 per cent. New Zealand’s NZX 50 Index rose 0.3 per cent. – Bloomberg