Global Markets Mixed But Headed For Annual Loss

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, Joe McDonald reported for the Associated Press (AP).

Photo Insert: The DAX in Frankfurt shed 0.6% to 13,996.57. It is headed for a 12% loss in 2022.

Shanghai and Tokyo advanced. London and Frankfurt declined. US futures were lower heading into Wall Street’s final trading day of 2022. Oil prices fell back. The FTSE in London lost 0.4% to 7,483.42.

It is on track to become the only major market with a gain for 2022, rising about 1% for the year. 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.

On Wall Street, the S&P 500 future was off 0.4%. That for the Dow Jones Industrial Average declined 0.3%.

On Thursday, the S&P 500 rose 1.7%. It will end the year down about 20%, which would be its biggest annual decline since 2008. The Dow gained 1% and the Nasdaq composite added 2.6%. Both are headed for annual losses.

In Asia, the Shanghai Composite Index gained 0.5% to 3,089.25. The Chinese benchmark is on track to end 2022 down more than 14%. 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 by more than 14% this year. Sydney’s S&P-ASX 200 was 0.3% higher at 7,038.70. India’s Sensex opened up 0.3% at 61,133.88.

New Zealand declined while Southeast Asian markets rose. South Korean markets were closed for a holiday. The country’s benchmark Kospi index is headed for a loss of more than 25% for the year.

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