Why Chinese Education Stocks Crashed Today
Shares of prominent Chinese education stocks have crashed today amid ongoing fears of a government crackdown on the sector. The market for private tutoring services has boomed in recent years, sparking concerns about the costs of raising children at a time when the Chinese government is attempting to encourage more people to have kids. As of 11:20 a.m. EDT, here's how these Chinese education companies were trading:
Image source: Getty Images.
There doesn't appear to be any specific news from today that is causing the sectorwide meltdown. Rather, the weakness seems to be related to lingering concerns that the government is escalating its efforts to regulate private tutoring companies.
Source Fool.com
