* Nifty futures on the Singapore Exchange is 0.28 percent up and the MSCI-Asia Pacific index excluding Japan is 0.02 percent lower.
* Asian shares were capped on Tuesday by caution over weak global growth data, but Japanese equities scaled a near five-year peak after the Standard & Poor's 500 Index closed at a record high overnight on renewed hopes for a steady U.S. recovery.
* The S&P 500 closed at another record high, pushing further above 1,600 as financial shares led the way after Bank of America's settlement with MBIA.
FACTORS TO WATCH
* India's group of ministers to meet yet again to discuss the setting up of a regulator for the coal sector at 1130 GMT.
* Earnings of GlaxoSmithKline Pharmaceuticals Ltd
INDIAN STOCKS TO WATCH
*Indian cbank panel calls for relaxing exporters' credit rules
*Payment of onetime spectrum fee to be made a pre-condition for M&As of telcos - Economic Times
*ONGC Videsh's arm hunts for equity partner for Siberian shale field - Business Line
*Govt to kick-start 200 bln rupees share sale in Coal India, likely by Sept - Economic Times
*L&T Infrastructure Finance to set up 3 bln rupees debt fund - Economic Times
*Maruti to replace low volume models in a year - Mint
*Sebi relaxes norms for Tata Tele for offer for sale of shares - PTI in Mint
*Den Networks to raise $160 mln through share sale - PTI in Business Standard
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