Oil prices rose in Asian trade on Wednesday, recovering a measure of recent losses as Israeli strikes against the Hezbollah group, in retaliation for a weekend attack, saw traders price in a bigger risk premium into crude. 

The yen hovered near a 2-1/2-month high on Wednesday ahead of a key Bank of Japan (BOJ) policy decision where the central bank is set to detail plans to taper its huge bond buying and a rate hike is on the cards.

British retailers suffered another bad month in July and expect further weakness in August as poor weather and generally weak trading conditions continued to hamper demand, the Confederation of British Industry said on Monday.

China's factory activity likely shrank for a third month in July, a Reuters poll showed on Monday, keeping alive expectations officials will need to release further stimulus as a protracted property crisis and job insecurity drag on growth.

Singapore state investor Temasek plans to invest up to $30 billion over the next five years in the U.S. in sectors such as healthcare, financial services and technology.

British public sector workers such as teachers and doctors are set to receive inflation-busting pay rises worth 9.4 billion pounds ($12.1 billion) that will pressure the public purse but help avoid disruptive industrial action, the government said on Monday.