Asian shares hovered near four-month highs on Thursday as upbeat U.S. data underpinned risk appetite, while news China is taking steps to stimulate its economy spurred Tokyo's Nikkei to a three-week peak, Reuters reported. The yen languished at 10-week lows as equity markets rose, denting safe-haven demand for the currency. Tokyo's Nikkei outperformed to gain 1.2 percent while South Korea's KOSPI rose to three-month highs The yen remained on the back foot as its safe-haven appeal continued to fade. The dollar traded at 103.965 yen, after briefly touching a 10-week high of 104.075. In the commodities markets, gold remained firm on signs of physical demand in Asia after bargain-hunting helped the metal post its biggest gain in three weeks on Wednesday. Spot bullion was at $1,291.71 an ounce, not far off Wednesday's session high of $1,294.60. China's stimulus plans did not impress all assets, and London copper dipped after the measures did not herald new demand for the metal.