Asian markets opened with a positive note on Thursdaybuoyed by stimulus measures from the Chinese central bank, despite the weaker than expected U.S consumer confidence data dampeninginvestor sentiment across globe. Meanwhile, thestimulus measures by the Chinese central bank hascontinued to lift markets in broader Asia.

Japan's Nikkei 225 surged over 2.39% to trade at38,775.53 points, continuing its positive trajectory from earlier sessions. The Japanese Yen continues to be volatile,andinvestors are weighing in the impact of the Bank of Japan's potential policy shiftswhich could impact market stability in the coming weeks.

Hong Kong's Hang Seng index opened at 19,302.57 and was trading up1.38% or 260 points. Taiwan's benchmark index climbed0.67% and South Korea's Kospi soaredmore than 2% on morning session Thursday.

Mainland China's blue-chip index rose0.65% to trade at 3423.48 asthe People's Bank of China on Wednesday also lowered the cost of its medium-term loans to banks to 2.00% from 2.30%in continuation of its broad easing measures announced Tuesday. Thestimulus measures from China aimed at helping its slowing economy pull out also raised investor confidence across markets in Asia.

US stocks closed mixed on Wednesday after reaching all-time highs earlier in the session, with investor sentiment weighed down by concerns about the economy. The Dow Jones Industrial Average fell by 0.7%, while the S&P 500 slipped 0.2%. The Nasdaq Composite, however, ended the day just slightly above the flat line.

Investors are increasingly worried about the possibility of a US recession, spurred by A weaker-than-expected consumer confidence report released on Wednesday raised Investor concernsabout the possibility of a US recession. Speculation is growing that the U.S Federal Reserve's recent 0.5% rate cut, larger than expected, could signal deeper concerns about the country's economic outlook and could lead to further cuts.

Markets are now pricing in a 59.1% chance of a 50-basis-point rate cut at the Fed's next policy meeting, up from just 37% a week ago, according to the CME FedWatch tool. Adding to the uncertainty, new home sales dropped in August, while mortgage applications saw their highest level since 2022.