Chinese Tech Stocks Near Bear Market as Tax Concerns Mount

An abrupt selloff in Chinese technology shares pushed a key index to the brink of a bear market, amid growing concerns that authorities may impose a tax on Internet firms. The Hang Seng Tech Index reversed an earlier gain to fall as much as 3.4% on Tuesday, briefly extending its drop to 20% from an October peak. Losses narrowed at the close, with the gauge ending down 1.1%. Kuaishou Technology, Baidu Inc. and Tencent Holdings Ltd. were among the biggest decliners. Most Read from Bloomberg The sudden dr ...