The KOSPI was the best performing Asian market this week, and was headed for a nearly 10% jump

Most Asian stocks rose on Friday amid cautious optimism ahead of ceasefire talks between Iran and the U.S., with bourses also headed for a strong weekly performance.

Chinese stocks were among the better performers for the day, even as inflation data for March painted a mixed picture of the world’s second-largest economy.

KOSPI was the best performer for the day, gaining 1.9% as technology stocks also caught bids. Markets showed little reaction to the Bank of Korea leaving interest rates unchanged at 2.50%.

The KOSPI was the best performing Asian market this week, and was headed for a nearly 10% jump. This was also in part due to outsized bargain buying after the KOSPI logged deep losses in March.

Nikkei 225 index climbed 1.5% on Friday and was headed for a 7% weekly gain. But the TOPIX was flat after data showed a bigger-than-expected rise in Japanese producer inflation in March, stoking fears of energy-driven inflation and interest rate hikes by the Bank of Japan.

Fast Retailing Co., Ltd. was the best performer in the Nikkei on Friday, after the Uniqlo owner clocked positive earnings and hiked its profit forecast for the fiscal year.

ASX 200 dropped 0.3% but was set for a 4.3% jump this week. Straits Time Index was flat and headed for a 0.7% rise this week.

Futures for Nifty 50 index declined 0.2%, with the index headed for an over 5% weekly gain.

Asian markets were encouraged by talks of a potential ceasefire in the Iran war, although a long-term peace deal still appeared distant, while oil flows through the Strait of Hormuz remained scant.

Stocks also benefited from outsized bargain buying after logging steep losses in March.

Shanghai Shenzhen CSI 300 and Shanghai Composite indexes added 1.2% and 0.7%, respectively. The two were also trading up between 3% and 4% this week.