SYDNEY, Jan 12 (Reuters) - Stocks and commodities rose in relief and the dollar hit a six-week low on Wednesday, after Federal Reserve Chair Jerome Powell sounded less hawkish than expected in testimony to Congress, as he charts a path out of pandemic policy settings.

TOKYO, Jan 12 (Reuters) - Japanese manufacturers turned less positive about their business conditions in January, in a sign the economy faces pressure from the Omicron variant as well as rising energy and raw material costs, the Reuters Tankan poll showed.

MELBOURNE, Jan 12 (Reuters) - Oil prices climbed on Wednesday, extending big gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates more slowly than expected, which should support oil demand in the near term.

TOKYO, Jan 12 (Reuters) - The dollar slid to its weakest since November against major peers on Wednesday, after Federal Reserve Chair Jerome Powell said it may take several months to make a decision on running down the central bank's $9 trillion balance sheet.

BEIJING, Jan 12 (Reuters) - China's factory-gate prices rose more slowly than expected in December after government measures to contain high raw material prices, official data showed on Wednesday, leaving room for easing monetary policy.

SINGAPORE, Jan 11 (Reuters) - Asian equities and the dollar struggled to find direction on Tuesday, with attention squarely on the timing and pace of U.S. monetary policy normalisation, but investors took some comfort from a late rebound in U.S. stock markets.