Asian markets tumbled on Wednesday as news that Donald Trump had replaced his moderate secretary of state with a hawk fanned fears of instability in the White House and a more hardline approach to foreign affairs.

The U.S. dollar dipped Tuesday against European currencies after U.S. inflation data pointed to a moderate pace of coming interest rate rises, with fresh White House turmoil adding pressure on the greenback, dealers said.

State-owned Qatar Petroleum announced Tuesday it has signed a deal with Abu Dhabi to operate the shared Al-Bunduq offshore oil field, despite a bitter diplomatic rift.

Asian investors moved cautiously Tuesday as the recent global rally sputtered, while trade tensions returned and markets look ahead to the release of crucial US inflation data.

China unveiled plans on Tuesday for the biggest shakeup of government in at least a decade, including the merger of its banking and insurance regulators to better handle financial risks as leaders look to address concerns over a growing debt pile.

President Donald Trump on Monday said U.S. Commerce Secretary Wilbur Ross will talk to EU representatives about lowering their tariffs and other barriers to U.S. products.

The initial public offering of oil giant Saudi Aramco may be delayed until 2019 at the earliest, the Financial Times reported, citing British officials briefed on the matter.

Qatar National Bank, the Middle East's biggest bank, on Monday said it aimed to almost double its foreign ownership limit, nine months into a regional crisis with Doha at its centre.

The EU's top trade official on Monday said Europe would stand up to intimidation by protectionists, as a row with US President Donald Trump over controversial steel and aluminium tariffs heated up.

French President Emmanuel Macron will be putting his investment banking chops to use in coming weeks as his government prepares a new wave of state asset sales to pay for his "disruptive innovations" fund.