Japan's current account surplus fell sharply in December after a record rise the prior month, finance ministry data showed on Wednesday, highlighting the impact of persistent trade deficits and a weak yen on the country's once-solid balance of payments.

Asian equities rose, while the dollar wobbled on Wednesday after less hawkish than feared comments from Federal Reserve Chair Jerome Powell boosted risk appetite and investor hopes that the central bank may soon ease monetary policy.

Oil prices fell on Wednesday following a stellar rally in the prior session, as traders stepped back to digest mixed signals on U.S. crude inventories and awaited more information on supply disruptions caused by an earthquake in Turkey. 

Natural Rubber (NR) production increased by 8.9 per cent in December 2022 (30,556 tonnes) as compared to November 2022 (28,048 tonnes). Year-on-year comparison showed the production of NR decreased by 26.7 per cent (December 2021: 41,690 tonnes). The production of NR in December 2022 for Malaysia was mainly contributed by smallholders sector (86.7%) as compared to estates sector (13.3%).

U.S. manufacturing contracted further in January as higher interest rates stifled demand for goods, but factories did not appear to be laying off workers in large numbers.

British manufacturers saw their business shrink for a sixth month in a row in January, kicking off a tough 2023 when the country's economy looks set to fall into a recession, according to a survey published on Wednesday.