Hong Kong Shares Flirt With Correction as Growth Headwinds Rise

(Bloomberg) — Hong Kong’s benchmark stock index wavered near correction levels Wednesday as growing geopolitical concerns and doubts over the strength of China’s economy spurred a rethink on the market’s outlook.

The Hang Seng Index advanced as much as 0.5%, erasing an earlier loss that took the gauge’s drop since a Jan. 27 peak to over 10%. A sharp three-month surge in the measure has started to reverse in February as investors sought more evidence that the economy’s recovery is on sure footing. Tech and property shares have led the latest decline.