Asian stocks advanced, with Japan’s Topix index climbing from a 7 1/2-year high. The euro slipped against most peers as Greek leaders said the country can’t take any more austerity and it’s time for creditors to compromise.
The MSCI Asia Pacific Index increased 0.3 percent by 12:08 p.m. in Tokyo, as the Topix gained 0.7 percent. The Shanghai Composite Index added 2 percent after its biggest weekly jump this year, while the ChiNext index of small Chinese companies retreated. The euro slipped 0.2 percent against the U.S. currency and Poland’s zloty declined after an opposition candidate won the presidency. The Bloomberg Dollar Spot Index was little changed near a one-month high. Palladium fell 1 percent.
Markets in the U.S., U.K., Hong Kong and South Korea are closed Monday. The dollar capped its biggest weekly advance since September 2011 as faster-than-estimated U.S. inflation reinforced comments from Federal Reserve Chair Janet Yellen that she expects to boost borrowing costs this year. Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis said over the weekend that the country can’t accept crushing austerity.
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