Up to $135 billion of jobless benefits paid out by U.S. states during the coronavirus pandemic may have arisen from fraudulent claims, Washington's top government watchdog said on Tuesday in a report suggesting the problem is much bigger than previously estimated.

Most Asian stocks moved in a flat-to-low range on Wednesday as investors awaited key U.S. inflation data, while Chinese property stocks logged strong gains as embattled developer Country Garden clinched more extensions on its debt payments. 

Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China.

The dollar was broadly steady on Wednesday ahead of a key U.S. inflation report later in the day, though it rose on the yen as traders assessed comments from Japan's top central banker on a possible early exit from its negative interest rate policy.

Japanese Finance Minister Shunichi Suzuki said on Tuesday he expects the Bank of Japan to conduct monetary policy appropriately and work with the government to achieve inflation target while taking into account "the economy, prices and financial conditions".

China's economy will grow less than previously thought this year and next as a struggling property market dogs what was once the world's growth engine, according to a Reuters poll of economists who said the risks were skewed to further downgrades.