Asia-Pacific markets trade higher on Friday as China stocks set for best week since 2008 and Hong Kong’s Hang Seng Index is set for a weekly gain of almost 13%, marking its best week since 1998, while investors also assess September inflation numbers from Japan’s capital city of Tokyo.

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank.

Shares of Hong Kong's major developer, New World Development surged as high as 23% after trading resumed, following the resignation of Adrian Cheng, a member of the founding family. The company halted trading on Thursday following the departure of Cheng.

His resignation adds to questions over succession at the Cheng family conglomerate, whose business also spans from jewelry to logistics.