U.S. annual home prices rose again in December, although housing price growth slowed during the fourth quarter of 2023 from the prior three-month period.

Asian stocks were tentative on Wednesday ahead of a U.S. inflation reading this week that could influence the timing of the Federal Reserve's easing cycle, while the New Zealand dollar fell sharply after the central bank softened its hawkish stance on rates.

Oil prices slipped in early Asian trade on Wednesday as the prospect of a delayed U.S. rate cutting cycle offset the boost provided by talk of extensions to production cuts from OPEC+.

The U.S. dollar held steady as traders brushed off manufactured goods data overnight and awaited the Federal Reserve's preferred measure of inflation for clues on when the U.S. central bank may start cutting interest rates.

The pace of a sales decline for British retailers eased in February and a measure of inflation dropped to its weakest in nearly three years, according to industry figures which echoed official data published earlier this month.

Japanese consumer inflation fell slightly less than expected in January, although core inflation remained near a two-year low as consumer spending slowed amid pressure from weakening economic conditions.