China's economy expanded 5.2% in the fourth quarter from a year earlier, official data showed on Wednesday, missing analysts' expectations slightly but still making it possible for Beijing to meet its annual growth target.

Google is laying off hundreds of employees in its advertising sales team, the Alphabet-owned company said on Tuesday, marking the latest cuts at the search giant.

Asian equities slumped on Wednesday, led by Chinese stocks after a slew of data pointed to a patchy recovery in the world's second-biggest economy, while the dollar was near a one-month high as traders dialled back bets of early interest rate cuts.

Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses.

The dollar index hovered at a one-month high against a basket of currencies on Wednesday as remarks by Federal Reserve Governor Christopher Waller dampened expectations for a March rate cut.

Japan's wholesale inflation was flat in December from a year earlier, slowing for the 12th consecutive month, underscoring the central bank's view that cost-push pressure from rising raw material prices will steadily dissipate.