China's Tianli leads plunge in HK-listed education stocks on report of tougher rules

JH Educational Technology

17/06/2021 09:08

** Tianli Education International  1773.HK  leads declines
in Hong Kong-listed Chinese education services providers,
falling 21.5% to a near two-year low of HK$2.88
    ** Stock on course for its worst day since Sept. 2, 2020 and
is the second-biggest percentage loser on the Hong Kong bourse
    ** China is poised to unveil a much tougher-than-anticipated
crackdown on the country's $120 bln private tutoring industry,
four sources told Reuters, including trial bans on vacation
tutoring and restrictions on advertising  urn:newsml:reuters.com:*:nL3N2NY4RP
    ** Trial vacation ban, which adds to plans to bar online and
offline tutoring on weekends during term time, could deprive
tutoring firms of as much as 70-80% of their annual revenue with
implementing cities including Beijing, Shanghai - sources 
    ** Shares of Beijing-based New Oriental Education &
Technology Group Inc  9901.HK  plunge 14.1% to HK$64, the
fourth-biggest percentage decliner on the Hong Kong bourse
    ** Guangdong-based Scholar Education Group  1769.HK  drops
11.2% to HK$4.04, the lowest since July 2019 
    ** Wisdom Education International  6068.HK  falls 8.4% to
HK$2.07, the lowest since April 2017
    ** JH Educational Technology  1935.HK  drops 9% to the
lowest since July 2020
    ** The Hang Seng China enterprises index  .HSCE  edges up
0.03% while the benchmark index  .HSI  climbs 0.2%


 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)