Asian stocks hold steady as US-Iran interim peace deal pressures oil prices

The United States and Iran signed a 60-day interim peace deal extending the ceasefire announced in April, while Washington kept the option of military escalation. After the agreement was released, WTI crude fell 1.25% to $US75.83 a barrel and Brent slid 1.4% to $US78.41. Asian equities were broadly steady, even as all three major U.S. indexes fell more than 1% overnight, with the Nasdaq down 1.34%. Japan’s Nikkei hit a record high, led by semiconductor and AI-related shares.