Global Markets: Asian Stocks Wobble to Weekly Loss Ahead of Inflation Data

Chinese internet stocks slumped on regulatory news to drag Asian stocks down for the final full trading week of the year, while the dollar trembled ahead of U.S. inflation data that's expected to validate bets on rate cuts in 2024.
MSCI's broadest index of Asia-Pacific shares outside Japan gave up gains to trade 0.3% lower, after China issued draft rules that would impose spending limits on gamersas the index sheds 0.6% in the week.
While, Banking shares helped Japan's Nikkei climb by 0.2%, outside Asia, markets have been in a festive mood for weeks as inflation data around the world has shown a slowdown and the Federal Reserve signaled it was done raising interest rates.
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