The Hang Seng’s slide from its Feb. 17 peak comes as traders rush to sell pricey stocks due to worries over rising bond yields.
HONG KONG: Hong Kong’s benchmark stock gauge extended its losses from a recent peak to 10%, set to enter a technical correction, as the city’s temporary suspension of BioNtech vaccinations fueled worries over the pace of its recovery from the pandemic.
The Hang Seng Index lost as much as 2.1% amid a broad selloff in Asia on Wednesday. Stocks in the commerce and industry sector as well as financials were the biggest losers on the gauge, with AIA Group Ltd. -- with the second-highest weighting -- contributing the most to losses.
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