Japan's biggest business lobby Keidanren and trade unions kicked off annual labour talks on Wednesday that may pave the way for the central bank to exit its decade-long super-loose monetary policy.

China created 12.44 million new urban jobs last year, meeting its target, but more efforts are needed to prop up employment amid uncertain economic conditions in 2024, the country's human resources ministry told a press conference on Wednesday.

Asian shares rose on Wednesday on optimism that Chinese authorities will offer support for its stock markets, which have plummeted to multi-year lows, while a hawkish tilt from the Bank of Japan lifted the yen.

Unemployment rates increased in 15 U.S. states in December, up by three from the prior month, but was unchanged in the majority of states and the District of Columbia, a report showed.

Oil prices kept to a tight range in Asian trade on Wednesday as mixed signals on global supply and demand saw Brent struggle to break above key levels, while U.S. inventory data also provided differing cues.

The dollar hovered near a six-week high against major peers on Wednesday as investors cemented expectations that the Federal Reserve would be in no rush to cut interest rates in the face of a resilient U.S. economy.