Economic activity increased in most parts of the U.S. and employment was mostly unchanged in recent weeks, the Federal Reserve said on Wednesday in a report that may do little to sway policymakers' interest rate views ahead of the central bank's meeting in two weeks.

U.S. business inventories increased further in October as sales dropped, suggesting inventories could contribute to gross domestic product in the fourth quarter.

U.S. retail sales increased more than expected in November as motor vehicle purchases rebounded and households boosted spending elsewhere, suggesting the economy maintained its strong pace of growth in the fourth quarter.

Malaysia's monetary policy is expected to gain greater flexibility in 2026, following the Fiscal Responsibility Act, which lowers the budget deficit cap to 3.0 per cent from 3.5 per cent in 2025.

China’s trade balance grew mostly in line with expectations in November, supported chiefly by strong exports as overseas demand for Chinese goods remained strong despite increased geopolitical ructions. 

Japanese stocks led gains in Asia on Wednesday, racing to fresh highs on growing optimism over more fiscal stimulus from Tokyo.