Asian markets surge, oil slumps as US and Iran agree to two-week ceasefire

New Delhi [India], April 8 (ANI): Asian stock markets spiked on Wednesday morning after the news of a two-week ceasefire between the United States and Iran. Oil prices fell sharply following the de-escalation of military tensions in the Middle East and the promised reopening of the Strait of Hormuz.

Japan's Nikkei 225 led the rally with a 5.28 per cent surge, up by 2,822.44 points, while South Korea's KOSPI rose