SYDNEY, Australia — Fireworks exploded in a kaleidoscopic shower of light over Sydney's shimmering harbor today as the world's first major city to ring in 2009 celebrated the end of a decidedly rocky year with cheers, beers and a sense of relief.

Spectator Randolph King, 63, of York, England, whose retirement fund was gutted in the global financial crisis, summed up the feeling of many worldwide as 2008 ends: "I'm looking forward to 2009. Because it can't get much worse."

Facing the end of a year that saw global markets come crashing down, partygoers everywhere struggled to forget their troubles on what is typically a joyous night.

In the Philippines, President Gloria Macapagal Arroyo spoke of hope for better days to come, while in Hong Kong, some admitted they were too depressed over their monetary woes to join in the revelry. And in Malaysia, the government — mindful of the shaky economy — opted against sponsoring any celebration at all.

In Sydney, the midnight pyrotechnic extravaganza, which organizers hoped would give revelers a brief respite from the global gloom, drew a cheering crowd of more than a million people.

In India, many were happy to see the end of 2008, during which the country was rocked by a series of terrorist attacks in several cities culminating in a three-day siege in Mumbai in which gunmen killed 164 people.

"The year 2008 can best be described as a year of crime, terrorist activities, bloodshed and accidents," said Tavishi Srivastava, 51, an office worker in the northern city of Lucknow. "I sincerely hope that 2009 will be a year of peace and progress."