Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

China shares slump as education firms routed after new rules

07/25/2021 | 10:00pm EDT

SHANGHAI, July 26 (Reuters) - A searing sell-off in education companies walloped Chinese shares on Monday after Beijing barred for-profit tutoring in core school subjects and restricted foreign investment in the sector.

In early trade , China's blue-chip CSI300 index was down 1.42%, the Shanghai Composite Index fell 1.02% and the Hang Seng index slipped 2.03%.

Sub-indexes tracking education and related sectors declined sharply. The CSI Education Index was last down 7.6% and the Hang Seng Tech index slumped 3.73%.

China's announcement on Friday it is banning for-profit tutoring in core school subjects to ease financial pressures on families sent shockwaves through its vast private education sector.

Hong Kong shares of New Oriental Education & Technology Group Inc crashed 35.76% after its U.S. shares plummeted more than 50% on Friday. The company provides tutoring and test preparation services in China. (Reporting by Andrew Galbraith Editing by Shri Navaratnam)


ę Reuters 2021
Latest news "Economy & Forex"
05:50pWall Street extends global slump on China fears
RE
05:48pUtilities Shares Fall But Beat Broader Market Amid Shift to Safety -- Utilities Roundup
DJ
05:46pCommunications Services Shares Move Lower -- Communications Services Roundup
DJ
05:40pTechnology Shares Fall Amid Risk-Off Trade -- Tech Roundup
DJ
05:38pThe WSJ Dollar Index Rises 0.04% to 87.83 -- Data Talk
DJ
05:38pEuro Gains 0.02% to $1.1729 -- Data Talk
DJ
05:38pSterling Lost 0.58% to $1.3658 -- Data Talk
DJ
05:37pTwo key u.s. senators urge justice department to investigate, prosecute unruly air passenger cases -letter
RE
05:37pDollar Lost 0.53% to 109.41 Yen -- Data Talk
DJ
05:37pFinancial Shares Tumble Amid China Property Concerns -- Financials Roundup
DJ
Latest news "Economy & Forex"