Asian equities exhibited a mixed performance on Thursday as investors adopted a cautious stance following recent significant gains. Concerns were fueled by Meta's announcement of higher-than-expected spending projections, raising apprehensions that the recent tech-driven rally may have reached unsustainable levels.

The Japanese yen also grabbed attention, depreciating to a fresh three-decade low above 155 per dollar, a threshold that may prompt intervention from currency authorities.

Market participants are closely monitoring the upcoming release of crucial US inflation data on Friday, which could influence the Federal Reserve's interest rate decisions at its forthcoming meeting.

The week had seen widespread market optimism driven by robust earnings reports from major tech companies, despite persistent inflation and interest rate challenges. Notably, London reached a new record high, joining other major markets like Frankfurt, Paris, Tokyo, and Wall Street in this year's positive trajectory.

However, the bullish sentiment lost some steam in New York, with the Dow declining and the S&P remaining flat while the Nasdaq edged higher.

Following this trend, Asian markets reflected mixed sentiments. Major indices in Tokyo, Singapore, Seoul, Taipei, and Jakarta experienced declines, whereas Hong Kong resumed its upward trend. Shanghai and Manila also recorded gains.

The cautious outlook was partly attributed to Meta's announcements, with shares plummeting over 10 percent in after-hours US trading due to revised spending projections.

Looking ahead, the focus remains on tech giants like Microsoft and Alphabet, set to report later in the day, alongside anticipation for the release of the personal consumption expenditures (PCE) index on Friday.

The yen's depreciation has spurred speculation of currency intervention by Japanese authorities, highlighting concerns over excessive currency fluctuations amid US interest rate dynamics and the Bank of Japan's monetary policy stance.