Asian stock markets close Friday on high note

On yearly basis, major stock exchanges were down amid surging inflation, aggressive rate hikes, resurgence of COVID-19

By Tuba Sahin

ANKARA (AA) - Major Asian stock markets closed higher on the final trading day of the year.

The Asia Dow, which includes blue-chip companies in the region, gained 0.41% for a reading of 3,247.80 points. On a yearly basis, the index lost 13.9%.

Tokyo's Nikkei 225 was flat at 26,094.50 while it has fallen 9.37% since the beginning of 2022, marking its first annual drop in 4 years amid high global inflation and aggressive rate hikes from major central banks.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, rose 0.20% to 19,781.41. On an annual basis the Hang Seng fell 15.46%, its worst year since 2011.

China's Shanghai Stock Exchange gained 0.51% to 3,089.26. However, the index dropped over 15% this year due to COVID-19, a property crisis, and slowing global growth.

The Singapore index climbed 0.06%, to 3,251.32 while gaining 4.09% for the year.

On the other hand, India's Sensex benchmark lost 0.48% to close Friday at 60,840.74. It was up 4.44% this year.

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