Hong Kong, mainland China stocks surge as US-Iran deal drives crude to 3-month low (opens original article in a new tab)

Hong Kong and Asian stocks rose after the US announced a deal with Iran to reopen the Strait of Hormuz, leading to gains in equity indices and a drop in oil prices.

• Hong Kong stocks rose after US-Iran deal on Strait of Hormuz
• Asian markets including South Korea and Japan saw significant gains
• Brent oil prices dropped 4% following the deal
• Global AI rally may gain momentum from the resolution