The Bank of Japan will hike interest rates only once more this year, most likely during the third quarter to 0.75%, according to a majority of economists in a Reuters poll published on Thursday.

Most Asian currencies were higher on Thursday led by gains in the Japanese yen, as the U.S. dollar was slightly weaker amid uncertainty around new tariff threats from U.S. President Donald Trump and the Federal Reserve's rate outlook.

Most Asian stocks fell on Thursday amid persistent concerns over high U.S. interest rates and increased trade tariffs, with Hong Kong markets clocking steep losses as an artificial intelligence-fueled rally lost steam. 

The yen hit its strongest level in over two months on Thursday as investors ramped up bets on further rate hikes from the Bank of Japan (BOJ) this year, while concerns about new tariff threats from U.S. President Donald Trump kept markets on edge.

Oil prices fell in Asian trading on Thursday after a one-week high, dragged by an unexpected increase in {{8849|U.S. crcrude oil inventories and ongoing geopolitical developments concerning potential peace negotiations between Russia and Ukraine.

A Thai industry body said it wanted more government support to counter global trade risks even as data on Wednesday showed industrial sentiment at a 10-month high, and the prime minister repeated calls for the central bank to cut interest rates.The Federation of Thai Industries said its industrial sentiment index rose to a 10-month high of 91.6 in January from 90.1 in December, bolstered by government stimulus, exports and tourism.