Mumbai, Feb. 20 -- Asian stocks retreated on Thursday as the minutes of the Federal Reserve's January policy meeting revealed concerns over inflation risks and U.S. President Donald Trump's harsh criticism of Ukrainian President Zelenskyy heightened tensions in the ongoing conflict.

China's yuan got a lift after Trump said "it's possible" for the U.S. and China to have a new trade deal and that he expected Chinese President Xi Jinping to visit the United States, without giving a timeline for the trip.

Earlier in the day, China's central bank left benchmark lending rates unchanged, as widely expected.

Gold scaled a new record high on tariff concerns and amid uncertain outlooks for both global trade and inflation.

Oil prices fluctuated ...