"Asia Stock Markets Brace for US Inflation Data, Weaken"
Asia stock markets weakened as investors in China sold off shares in property developers, remaining skeptical of efforts to revive the mainland real estate market. Hong Kong's Hang Seng Index was down 1.4% as investors retreated from China's troubled property sector. China's authorities have rolled out measures to support the debt-riddled property sector, but stability is still needed for a meaningful economic rebound. E-commerce giant Alibaba Group dropped 3.1% on the surprise departure of its outgoing CEO from its cloud unit. In the United States, the Consumer Price Index for August is expected to rise, and investors are pricing in a 93% probability that the Fed will keep rates at current levels after its next meeting.