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"The European economy is heading toward recession next year, and I think it's going to continue to weigh on markets"
- Stephen Halmarick, head of investment markets research at Colonial First State Global Asset Management
Japanese stocks closed mixed on Friday as investors' worries over the eurozone economy were partly offset by better-than-expected employment data in the U.S. The Nikkei 225 gained 0.29%, or 24.35 points, to 8,401.72, while the broader Topix shed 0.20%, or 1.46, to 723.56.
"The U.S. economy is ending the year in a bit better shape than people had anticipated, and that is good, but Europe is obviously not," said Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management.
"The European economy is heading toward recession next year, and I think it's going to continue to weigh on markets."