Asian stock markets are trading higher on Thursday after positive earnings surprises drove US equities to a fresh record, while the yen and New Zealand's dollar slid to six-week lows on increasing prospects for stimulus.

Japan's benchmark index, Nikkei 225 rose 202.00 points or 1.21 percent to trade at 16,883.89. China's benchmark index, Shanghai Composite rose 7.61 points or 0.25 percent to trade at 3,035.51. Hong Kong's Hang Seng went up 119.70 points or 0.55 percent to trade at 22,002.18.

Singapore's Straits Times rose 2.91 points or 0.1 percent to trade at 2,948.65. South Korea's KOSPI went up 0.53 points or 0.03 percent to trade at 2,015.99. Taiwan's TAIEX gained 67.55 points or 0.75 percent to trade at 9,075.23.