Kospi gains 0.3%
South Korea's benchmark Kospi reversed early losses to hit a fresh 3-month closing high for a third straight session after the new Bank of Korea governor Lee Ju-Yeol promised consistent and predictable monetary policy. Meanwhile, the won rose to a 3-week high against the greenback.
Upbeat economic data also boosted sentiment. Manufacturing activity expanded in March, according to the HSBC/Markit purchasing managers' index, which rose above the key 50-level.
Among blue-chips, Posco gained 1.5 percent while Hyundai Motor inched up 0.2 percent.
Read MoreADB raises growth forecast for developing Asia
ASX falls 0.1%
Australia's benchmark S&P ASX 200 pared losses but still retreated from Monday's two-week closing high after the Reserve Bank of Australia left its key interest rate unchanged at 2.5 percent and reiterated its commitment to a period of rate stability, as widely expected.
Meanwhile, the Australian dollar fell to $0.9260 after briefly hitting a 4-month peak of $0.9310 following the decision.
Home builders rose after home prices across major cities increased 3.5 percent in the first quarter. CSR led gains by nearly 2 percent while Boral added 1 percent.
India dips 0.1%
India's benchmark index finished 0.27 percent higher after the Reserve Bank of India left its repo rate unchanged. Earlier in the session, the index hit a record high of 22,485 points.