Asian stock markets were mixed on Thursday, but Japan and South Korea led the way. The Nikkei 225 and TOPIX indices both reached new all-time highs after investors revised down expectations for further Bank of Japan policy tightening. The appointment of more accommodative officials to the central bank's leadership reduced the likelihood of an imminent rate hike and put pressure on the yen, supporting exporters.

South Korea's KOSPI index showed the most impressive performance in the region, rising more than 2 percent to a new record. Nvidia's strong quarterly report spurred the rally, boosting confidence in continued strong demand for AI components. Shares of Samsung Electronics and SK Hynix, key memory suppliers to the American chipmaker, rose sharply and became the index's main drivers. Meanwhile, Chinese markets paused after a rapid two-day rally fueled by investors returning from the Lunar New Year holidays. Mainland Chinese indices corrected slightly, taking profits. Hong Kong's Hang Seng also declined amid weakness in the technology sector, where investors remained cautious ahead of corporate earnings releases.

The Australian market continued to rise, hitting a new high thanks to resilience in banking and commodity companies. Overall, the region benefited from a strong Wall Street close yesterday, but concerns about Nvidia's sales momentum and the situation in the Chinese market curbed global investor optimism.