Asian Markets Up Sharply As U.S.-Iran Peace Deal Lifts Sentiment

(RTTNews) - Stock markets across the Asia-Pacific region are up sharply on Monday with investors cheering the news about Iran and the U.S. signing a peace deal to end the crisis in the Middle East.

The preliminary framework includes halting the U.S. blockade of Iran and reopening of the Strait of Hormuz. The resultant sharp drop in oil prices has helped ease inflation concerns, adding to the upbeat sentiment in the markets.

According to reports, an official signing ceremony is scheduled to take place in Switzerland on June 19.

US President Donald Trump announced the agreement on Truth Social on Sunday, saying, "The Deal with the Islamic Republic of Iran is now complete."

"Let the oil flow!" the U.S. President exclaimed and declared that the "great deal" would bring "peace and security to the whole region."

In the Australian market, mining, energy and financials stocks are up with big gains. The S&P/ASX 200 is up 119.10 points or 1.35% at 8,923.10, while the broader All Ordinaries Index is up 130 points or 1.44% at 9,136.50.

Among bank stocks, Commonwealth Bank of Australia, Westpac Banking Corporation and ANZ Group Holdings are up 1.2%-2%. National Australia Bank is rising 2.7%. Bendigo & Adelaide Bank is moving up 2.3%

Regis Resources is up 14.2% and Valut Minerals is surging 15.3%, while Evolution Mining is up more than 9%. BHP Group, Fortescue, Mineral Resources, Sandfire Resources, Greatland Resources, Perseus Mining, Genesis Minerals and Capricorn Metals are gaining 3%-8%.