NEW YORK/LONDON: Global stocks mostly fell Friday on the final day of the year as investors locked in recent gains to smarten up the look of their 2010 portfolios. Despite the broad declines, most of the world's major markets have ended the year higher than where they were 12 months ago – a clear signal that the global economy has started growing again, albeit slowly, following the deepest recession since World War II. Year-end trading is often complicated by traders closing out positions to present their portfolios in as good a light as possible. After all, bonuses are often dependent on how well those portfolios have actually performed. In Europe, the FTSE 100 index of leading British shares closed down 71.07 points, or 1.2 percent, at 5,899.94.Despite the decline, it's ended the year around 10 percent higher. The CAC-40 in France fell 45.98 points, or 1.2 percent, to 3,804.78, meaning it has ended the year about 3 percent lower. Germany's DAX was closed Friday, having ended the year Thursday around 16 percent higher at 6,914.19. World stocks ended 2010 at their highest levels in 28 months as investors geared up for further risk-taking into 2011, prompted by a wilting dollar and low yields on US bonds. US stocks slipped Friday in a quiet final session of 2010 as investors looked toward the new year in hopes of building on Wall Street's gains. The Dow Jones Industrial Average was flat, down 2.76 points (0.02 percent) to 11,566.76 at 1615 GMT. The S&P 500 index, a broader measure of the market, dipped 0.42 point (0.03 percent) to 1,257.46. The tech-rich NASDAQ shed 10.21 points (0.38 percent) at 2,652.77. “The US equity markets are modestly lower in the final session of 2010, with volume anemic and data light as most have already set their sights on 2011,” Charles Schwab analysts said in a client note. With no major economic releases on the calendar, investors appeared poised to tread water again after modest losses Thursday despite positive economic news releases: the Dow fell 0.14 percent, the S&P 500 lost 0.15 percent and the NASDAQ dropped 0.15 percent. Asian stocks were mostly higher Friday in thin trading as few investors were willing to place bets on the last day of the year. China's Shanghai Composite Index was up 48.50 points, or 1.8 percent, to finish the year at 2,808.08. It was one of the few major markets that had a full trading day. Despite the strong bounce, Chinese stocks are ending the year about 14 percent lower than when they began 2010, as investors have been fretting in recent months that the government will take aggressive measures to cool the overheating economy and keep a lid on surging inflation. Hong Kong's Hang Seng index was up 36.11 points, or 0.2 percent, in a shortened trading session to end the year at 23,035.45. The benchmark index gained about 7 percent this year. Japan's stock market was closed Friday. On Thursday, the benchmark Nikkei 225 stock average fell 115.62 points, or 1.1 percent, to close at 10,228.92. It ended the year down around 3 percent, mainly on account of concerns over a stronger yen, which hurts the country's high-value exporters. Stocks in Australia and New Zealand ended lower in a shortened trading day. Singapore's benchmark was lower, while those in Taiwan and India were higher. Markets were closed in South Korea and Thailand.