Most Asian stocks moved in a tight range on Wednesday amid persistent concerns over the Iran war and its inflationary impact, with focus squarely on an upcoming U.S.-China summit.

South Korean shares outperformed, with the KOSPI rebounding from Tuesday’s losses on renewed strength in chipmaking stocks.

Regional markets took a weak overnight lead-in from Wall Street, as a hotter-than-expected consumer inflation print highlighted concerns over the inflationary effects of the Iran war.