AsianFin -- Stocks in Pakistan and India surged on Monday after a ceasefire agreement between the two nuclear-armed neighbors eased fears of further military escalation, restoring investor confidence in the region.

Pakistan’s KSE-30 Index soared as much as 9.2%—its biggest intraday gain since 2008—triggering a one-hour trading halt. In Mumbai, the NSE Nifty 50 Index climbed as much as 3.5%, as the de-escalation allowed investors to refocus on economic fundamentals.

“Given how quickly things were escalating last week, the developments over the weekend are a move in the positive direction,” said Vivek Dhawan, a fund manager at Brussels-based Candriam. “The focus could return to the Indian growth story.”