China's urban employment fell for the first time in six decades last year and per capita spending also marked a rare decline, as harsh COVID-19 curbs ravaged the world's second-biggest economy.

U.S. consumer confidence unexpectedly fell in February, with the decrease concentrated among lower-middle-income households, though Americans grew more upbeat about the labor market.

Asian stocks rebounded from a two-month low on Wednesday as data showing China's manufacturing activity in February expanded at the fastest pace in more than a decade cheered investors, ofsetting fears over rising interest rates.

Oil prices rose on Wednesday as stronger-than-expected Chinese economic data drummed up hopes for a demand rebound in the country, helping markets look past signs of another large build in U.S. inventories.

The dollar wobbled on Wednesday after China's manufacturing activity expanded at its fastest pace since April 2012 and exceeded forecasts, sparking some risk-on appetite that sent the safe-haven dollar lower.

Toyota Motor Corp saw a slight drop in global sales last month due to lingering effects of the COVID-19 pandemic and a chronic shortage of semiconductors for automobiles, the Japanese automaker said.