TOKYO, Feb 22 Reuters Japan39;s Nikkei share average topped its alltime peak on Thursday, after unexpectedly strong revenue forecasts from U.S. chip designer Nvidia lifted Asian tech stocks.

Chinese equities recovered from early weakness and looked set to extend a winning run to an eighth straight session amid optimism over Beijing39;s stimulus efforts.

Longterm U.S. bond yields hugged threemonth highs while the dollar sagged after minutes from the last Federal Open Market Committee meeting confirmed the view that interest rate cuts would be slow in coming, but weren39;t markedly more hawkish than the Fed39;s previously expressed views.

The Nikkei 225 share average closed 2.19 higher at 39,098.68, and earlier rose as high as 39,156.97, topping the previous alltime closing and intraday highs set on Dec. 29, 1989, at the peak of the socalled bubble economy.

Given robust corporate earnings without frothy valuations reminiscent of the last time Japanese equities were this high, a weakening yen backdrop, along with the market responding well to the government39;s tilt towards greater corporate governance, it39;s little surprise that investor sentiment remains very positive and Japanese equities continue to surge, said Joe Lin, executive director for investments at Golden Equator Wealth.

MSCI39;s broadest index of AsiaPacific shares outside Japan rose 0.56, helped by gains of around 1 for both Taiwan39;s stock benchmark and Hong Kong39;s Hang Seng, which rebounded…