Asian markets traded higher on Friday as investor sentiment improved on hopes of progress in US-Iran peace talks, although rising oil prices and continued uncertainty over the Strait of Hormuz kept inflation concerns in focus.

While oil prices fell in U.S. trading, reports that Tehran intends to keep its enriched uranium stockpile within the country stand to complicate negotiations with the U.S.

Asian markets are up for a second day. US stock futures are also higher. Optimism about US-Iran talks is boosting sentiment. However, oil prices are climbing again. This is…