Asian markets rise on news of US-Iran peace deal

Pakistan has announced a landmark peace deal between the US and Iran, ending months of hostilities. Prime Minister Shehbaz Sharif confirmed on Sunday that both nations have agreed to an immediate end to military operations on all fronts, including Lebanon. The agreement also calls for the reopening of the strategic Strait of Hormuz. In response, Asian markets surged as tumbling oil prices eased inflationary pressures.