Why JD, Huya, and New Oriental Education Stocks Tumbled on Monday
Stocks of some of China's most popular companies slumped on Monday after fears arose regarding the potential for another COVID-19 surge. Additionally, a new wave of government regulatory crackdowns against the tech sector added to investor skepticism.
Shares of JD.com (NASDAQ: JD) slipped as much as 5.6%, New Oriental Education & Technology Group (NYSE: EDU) fell as much as 10%, and Huya (NYSE: HUYA) slumped as much as 10.7%. As of 11:52 a.m. ET, the trio were still trading lower, down 5.6%, 8.6%, and 8.9%, respectively.
Several developments weighed on the major Chinese market indexes on Monday, as the Hang Seng Index declined 2.8% and the Shanghai Composite Index was down 1.3%.
Source Fool.com
