Asia stocks wobble to weekly loss ahead of inflation data

News Snapshot:

On Friday, Chinese internet stocks fell on regulatory news, dragging Asian stocks lower for the year’s final full trading week, while the dollar trembled ahead of US inflation data, which is expected to validate expectations on rate cuts in 2024. After China issued a draft of laws imposing spending limits on gamers, MSCI’s broadest index of Asia-Pacific shares outside Japan gave up gains to trade flat. The index is down 0.2 per cent for the week. Netease was down 12 per cent, and Tencent was down 7 per cent, sending the Hang Seng down 0.4 per cent. Banking stocks helped...