Economic growth in the Asia-Pacific region is likely to face headwinds in 2025 due to potential U.S. tariff increases, a strong dollar, and weaker export demand, UBS analysts said in a research note.

Oil prices dipped in Asian trade on Thursday, extending losses amid uncertainty over how U.S. President Donald Trump's proposed tariffs and energy policies would impact global economic growth and energy demand.

Most Asian stocks rose on Thursday, with Japanese markets drifting higher before a Bank of Japan meeting, while Chinese shares rebounded as the government outlined more support for equities. 

The dollar traded in narrow ranges against major peers on Thursday, as the currency continued to struggle for direction in the absence of concrete announcements on tariffs from U.S. President Donald Trump.

Indonesia's new President Prabowo Subianto plans to spend 48.8 trillion rupiah ($2.99 billion) through 2029 to build the new capital city "Nusantara", with a target of relocating the government there by 2028, the project's chief said on Tuesday.

The United Kingdom’s unemployment rate rose to 4.4% for the three months ending in November, according to official figures released on Tuesday, an increase from 4.3% the previous quarter.