Business and finance news from the Asia-Pacific.

Stocks rallied, oil slumped and the dollar fell after the US and Iran said they had reached a deal to reopen the Strait of Hormuz. The Strait of Hormuz will be "opening" on Friday upon the signing of the deal with Iran, President Trump said in a post on Truth Social. The deal announcement came first from Pakistani Prime Minister Shehbaz Sharif, and was followed by Trump and Iranian state media. Neither side released the text of the deal but the broad contours had circulated for days. We spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.

Plus for more on the US-Iran's peace agreement, Bloomberg TV hosts Haidi Stroud-Watts and Shery Ahn spoke to William Roebuck, executive vice president of the Arab Gulf States Institute.