Global stocks rally on growing signs of U.S.-Iran peace deal, as investors bet on Middle East de-escalation and lower geopolitical risk.

Grain futures fall in Chicago on potential Strait of Hormuz reopening that could ease food inflation threats from the ongoing war.

Grain futures declined in Chicago as a potential reopening of the Strait of Hormuz could improve access to vital crop inputs, helping to ease threats to food inflation brought on by the months-long war.

PBOC sets yuan midpoint at strongest since February 2023, signaling support for the currency amid ongoing economic pressures.

The People's Bank of China set the yuan's daily midpoint at its strongest level since February 2023.

Nikkei surges 5.1% to 69,359.86 as Japanese equities extend rally.

Japanese equities continue to rally, with the Nikkei climbing 5.1% to 69,359.86.

Oil extends losses toward $89 a barrel on expectations Strait of Hormuz could reopen, Iranian exports may return, easing inflation concerns and boosting risk assets.

Oil prices extended losses toward $89 a barrel on expectations that the Strait of Hormuz could reopen and Iranian exports may return, easing inflation concerns and boosting risk assets including technology, travel, and industrial shares.