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Chinese Shares Rise at Open on US-Iran Peace Deal

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Chinese shares opened higher on Monday as global sentiment improved following news that the US and Iran reached a peace deal.

The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.5% to 4,053.58. The Shenzhen Component Index climbed 1.3% to 15,153.18.

Both the US and Iran declared the "immediate and permanent termination" of military operations on all fronts, including in Lebanon, according to Pakistan Prime Minister Shehbaz Sharif. Pakistan is acting as the neutral mediator.

The agreement was finalized even after an Israeli strike on Lebanon on Sunday that provoked condemnation from both Iran and US President Donald Trump.

Mediators will conduct a series of meetings this week, with the preliminary discussions paving the way for the official signing ceremony on June 19, Sharif said.

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