Asian stocks rose Friday while Europe opened lower as most major markets headed for big annual losses following a year that was roiled by Russia's invasion of Ukraine and interest rate hikes to cool surging inflation.
A man rides his bicycle past monitors showing Japan's Nikkei 225 index at a securities firm in Tokyo, Friday, Dec. 30, 2022. Asian stock markets followed Wall Street higher on Friday following encouraging U.S. employment data but were headed for double-digit losses for the year.
“Considering the market news was sparse, the shift higher has the hallmarks of a dead cat bounce,” said Stephen Innes of SPI Asset Management in a report. The DAX in Frankfurt shed 0.6% to 13,996.57. It is headed for a 12% loss in 2022. The CAC-40 in Paris declined 0.5% to 6,539.21. It is down 9.5% for the year.
Tokyo's Nikkei 225 finished unchanged at 26,094.50. It is headed for an annual loss of almost 10%. The Hang Seng in Hong Kong added 0.2% to 19,781.41. It is off more than 14% this year.
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