The Rally Continued In Tokyo
Japanese stocks rose for a seventh consecutive day, closing at a new 15-year high due to expectations of higher dividends and recovery of the domestic economy.
The Nikkei rose by 0.7% and closed at 20,413.77 points - the highest level since April of 2000.
The last seven days, the Japanese index has recorded total gains of 4.3%, marking the longest upward trend since last December.
The broader index TOPIX closed with an increase of 0.7% at 1,659.15 points, while only just 2.05 billion shares were traded - the lowest volume of transactions within one month.
USD/JPY Is Near To A 2-Month High
Dollar climbed against the yen near its highest level in two months while it gained ground also against other major currencies, as the stronger than expected inflation data in USA supported the scenario of rising interest rates later this year.
The US currency was formed earlier close to the 2-month high of 121.78 yen, advancing from the low of 120.64 yen where it was found on Friday.
If it exceeds 122.04 yen, the dollar will break a record of eight years against the Japanese currency.
"Whether the dollar can overcome the limit of 122.04 yen, depends on the upcoming data from the US," said an analyst of IG Securities in Tokyo.
Euro Below $1.10
Euro moves against the US currency lower than the level of $1.10 today, reflecting a slight increase from the concerns about the results of the Spanish municipal elections.
Specifically, at 10:35 GMT, euro moved with a loss of 0.33% at $1.0978, while earlier was found at $1.0960.
Investors have turned their focus on the developments in Greece and on the outcome of the Spanish municipal elections where the ruling Popular Party (PP) is heading for the worst results it has achieved since 1991.
Stock Markets Closed In USA, Frankfurt And London
Stock markets have a low volume of transactions as well as the stock markets in USA, Frankfurt and London are closed on Monday, 25th of May.
More specifically, the stock market in Frankfurt and in London are closed for the celebration of the Day of May, while Wall Street will be closed to celebrate Memorial Day.
In Asia, the markets were closed both in Hong Kong and in South Korea to celebrate the Buddha's birthday.
Netherlands: The Government Plans To list ABN Amro In Stages
The Dutch government plans to list ABN Amro, nearly seven years after the nationalization of it. It was announced also that the government plans to sell 30% of its stake through an initial public offering, valuing the value of the financial group around EUR 15 billion.
Dutch Finance Minister, Jeroen Dijsselbloem, announced at the end of last week the plans for the initial public offering of ABN, noting that the government is optimistic that it will ensure the necessary approval from the parliament for the initial public offering.
The bank will have strong protection from acquisitions movements and the government will remain a shareholder for several years, Mr. Dijsselbloem explained.
The Dutch government expects to gain around EUR 4.5 billion from the listing of 20% -30% of ABN, possibly in the fourth quarter of the year, hoping that it will recover some of the money that it had to give for its rescue.
Stiglitz: Possibility For A Grexit Is 50-50
50-50 are the chances of Greece exiting from the euro, according to the economist Joseph Stiglitz, in an interview with the Independent.
The Nobel prize winner economist said that the chance of Greece to leave the euro is divided, as once again the country is near to run out of money. "What bothers me is that Germany and the others have considered it as a complete failure," he said.
He also said nice words about Greece regarding the reduction of its expenditures due to the austerity measures that were imposed by the ECB, a taste of the drug that was "meant to kill the economy", which were shrunk by a quarter.
He also added that the ECB's economic forecasts for Greece were wrong in 2010 and the years after, adding: "If they were my students and came with a range of models like those I would have rated them with a D- or F».
He thinks that Europe must change its attitude and help Greece to recapitalize banks to revive loans to small businesses in the country.