Japan's inflation-adjusted real wages in March fell 2.5% from a year earlier, marking declines for two straight years, labour ministry data showed on Thursday.

China's exports likely returned to growth in April after contracting sharply in March, but the expansion is expected to be modest as factory owners wrestle with weak overseas demand and overcapacity that is pushing down their selling prices.

U.S. wholesale inventories fell in March, confirming that inventory investment was a drag on economic growth in the first quarter.

Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year.

The dollar held tight ranges against most peers on Thursday as traders awaited key U.S. inflation data for cues on Federal Reserve policy, while the focus on the massive interest rate gap between Japan and the U.S. helped it make some gains on the yen.

Asian stocks lacked direction on Wednesday, while the dollar remained firm despite lower U.S. Treasury yields as markets assessed mixed signals from U.S. policymakers and economic data on the path for Federal Reserve interest rates.