Andrew Galbraith
3 minute read
A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song
Summary
CSI300, Hang Seng record lowest closes since Dec 2020
Education index at 16-mth low, real estate sector near 6-yr low
Property, tech, education hit by new regulatory moves
SHANGHAI, July 26 (Reuters) - China and Hong Kong shares fell sharply to their lowest this year on Monday, as investor worries over government regulations battered stocks in the education, property and tech sectors.
The searing sell-off sent Hong Kong-listed Scholar Education Group (1769.HK) shares crashing more than 45%. Hong Kong stocks of New Oriental Education & Technology Group Inc (9901.HK) plummeted more than 47% after the company s U.S. shares lost over half of their value on Friday. The company provides tutoring and test preparation services in China.
China shares tumble on regulatory clampdown; education firms selloff heavily
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China, Hong Kong shares tumble on regulatory clampdowns
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