Confidence at Japanese manufacturers in July was subdued, a Reuters poll showed, reflecting pressure from a problematic chip shortage, China's heavy pandemic response and a weak yen that is making imported materials increasingly expensive.

The International Monetary Fund on Tuesday warned that avoiding recession in the United States will be "increasingly challenging" as it again cut its 2022 U.S. growth forecast to 2.3% from 2.9% in late June as recent data showed weakening consumer spending.

Oil edged up on Wednesday, a day after prices fell through $100 a barrel for the first time since April, but gains were limited by caution ahead of U.S. inflation data that could weaken the market.

 The dollar was up on Wednesday morning in Asia, with investors wary a record-high reading in 40 years could fuel interest rate hike expectations from the U.S. Federal Reserve.

Britain's economy grew unexpectedly in May, driven by a rise in doctor appointments and demand for holidays, according to official figures that could reassure the Bank of England about its plans to keep on raising interest rates.

China's economic growth likely slowed sharply in the second quarter as COVID-19 lockdowns hit factories and consumer spending, a Reuters poll showed, suggesting policymakers may have to do more to spur a faster recovery.