Oil prices were little changed on Wednesday as traders remained cautious after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China.

The dollar was firm on Wednesday, supported by a safety bid as the U.S. hurtled toward its borrowing limit and boosted after solid economic data had traders trimming bets on imminent rate cuts.

Asia stocks mostly held firm on Tuesday despite weaker-than-expected Chinese economic data, with investors expecting the world's second-biggest economy to provide policy support.

European car giants are facing a massive shake-up, and a potentially devastating loss of income, from changes in the car market as electric vehicles cause a change in consumer behaviour, and Chinese car makers grab a significant share of the EV market.

South Korea's car exports surged 40.3 percent on-year in April on the back of solid demand for eco-friendly cars, the industry ministry said Tuesday.

Indonesia's April trade surplus came in slightly bigger than expected, even as exports and imports plunged amid declining prices of its main commodities like palm oil, coal and nickel.