Oil prices moved little in Asian trade on Wednesday, hovering around two-week lows after the OPEC cut its demand outlook again, while focus remained on more stimulus measures in China.

The U.S. dollar held near a 6-1/2-month peak against major peers and bitcoin was solidly poised just below record highs on Wednesday as markets sized up so-called Trump trades ahead of key U.S. inflation data later in the day.

Oil prices eased on Tuesday as investor disappointment over China's latest stimulus plan and oversupply concerns weighed on the market, along with a stronger dollar.

Asian stocks tumbled on Tuesday dragged by Chinese markets and chip shares as investors worried about U.S. President-elect Donald Trump's policies, while bitcoin hit a record peak on bets on assets that are set to benefit from the new administration.

Most Asian currencies weakened on Tuesday, while the dollar traded near a four-month high as traders remained largely biased towards sectors expected to benefit from a second Donald Trump presidency. 

Most Asian stocks fell on Monday (NASDAQ:MNDY) as fresh fiscal stimulus from China largely underwhelmed, while data over the weekend showed deflation in the country remained in play.