I don't think I've ever heard anyone say "celebrate Asian culture". Precisely because it's a barely meaningful agglomeration. Now if we examine the context in which "European culture" is celebrated... hm, yes I see.
I have heard it. There are just generic Asian American society functions, which celebrate the melting pot of everyone who isn't strictly first generation and has multiple ethnic backgrounds.
That would be Asian American culture then, except Americans tend to not notice that their culture is not everywhere and needs qualification.