Stock markets mixed before Christmas break as US inflation cools

NEW YORK - Global stock markets traded in a tight range before the Christmas break, while Asia-focused tech shares were hammered after China announced additional curbs on online gaming.

Wall Street stocks finished a choppy session mostly higher amid light trading volumes, with major indices yet again scoring weekly gains.

London's FTSE 100 index finished virtually unchanged in a half-day session, despite fears of recession as data showed the UK economy shrank in the third quarter and flatlined in the prior three months.

Paris was also flat while Frankfurt finished 0.1 percent higher.

In the United States, government data showed the Fed's favored measure of inflation slowed on lower energy prices.

Markets fizzed higher last week after the US central bank signaled it would at last start cutting interest rates next year, in a major dovish pivot as inflation slows in the world's biggest economy.

In Asia, stock markets diverged after China unveiled fresh plans to restrict online gaming.