China stocks hit over three-month highs Tuesday after the country set its economic growth target at "around 5%" for 2024 during its "Two Sessions" meeting.
The country will boost its defense spending by 7.2% in 2024. It expects the inflation rate to rise to "around 3%."
Hong Kong's Hang Seng index led losses in Asia, down 2.65%, while the mainland China's CSI 300 index ended 0.7% higher at 3,565.51, highest since late November.
South Korea's revised GDP figures showed its economy grew 0.6% for the fourth quarter of 2023, while Japan's capital city of Tokyo's inflation rebounded from a 22-month low in February.
South Korea's Kospi slipped 0.93% at 2,649.40, and the small-cap Kosdaq shed 0.76% at 866.37.
Japan's Nikkei 225 fell marginally, although it still remained above the 40,000 mark and closed at 40,097.63. The broad based Topix also gained 0.5% to 2,719.93, hitting a new all time high.
The Taiwan weighted index also gained 0.42% to hit a record high of 19,386.92, with chipmaker TSMC gaining 0.69% and reaching an all time high of 730 New Taiwan dollars ($23.11) a share
In Australia, the S&P/ASX 200 closed 0.15% lower at 7,724.20.
On the commodities front, gold futures settled at a record high on Monday as traders bet the Federal Reserve will start cutting interest rates in the second half of the year. Futures reached $2,126.30, before falling slightly to $2,111.4 per ounce.
Overnight in the U.S., all three major indexes retreated with the S&P 500 and Nasdaq Composite off all-time highs, despite technology stocks tied to the artificial intelligence boom seeing a rally.
The S&P 500 shed 0.12%, while the Nasdaq Composite slipped 0.41%. The Dow Jones Industrial Average lost 0.25%.
— CNBC's Clement Tan, Sarah Min and Alex Harring contributed to this report.