Asia-Pacific stocks mostly rose Thursday, with several markets remaining closed for Boxing Day. Japan's Nikkei 225 rose 0.44%, while the Topix added 0.49%, a day after a report said the country was preparing a record $735 billion budget for its fiscal year starting in April.

Investing.com-- Asian stocks were largely muted on Thursday as trading remained thin with major stock indexes shut for holidays, while Japanese shares climbed after a report showed Japan planning a record budget for the upcoming fiscal year.

Japan's cabinet on Friday approved a record $730 billion budget for the fiscal year starting in April, while limiting new bond issuance to the lowest in 17 years on the back of record tax revenue.