China's East Buy hits 2-year low as celebrity livestreamer departs

New Oriental Education & Technology

26/07/2024 04:44

** Shares of Chinese online education courses provider East
Buy Holding Ltd  1797.HK  plunge as much as 28.1% to HK$8.92,
marking their lowest since June 2022
    ** Stock of New Oriental Education & Technology Group Inc's
 EDU.N  majority-owned unit on track for biggest one-day pct
drop since June 2022, if current losses hold
    ** Stock on track to snap two consecutive sessions of
decline; top pct loser on the Hang Seng Composite Index  .HSCI ,
which slips 0.2% 
    ** East Buy says Dong Yuhui, its employee and a celebrity in
the livestreaming e-commerce industry in China, has decided to
leave co with effect from July 25 due to career aspirations
    ** Hong Kong shares of New Oriental Education  9901.HK  drop
8.3% to HK$52.75, lowest since Dec 22
    ** The Hang Seng Commerce & Industry Index  .HSNC  and the
Hang Seng Index  .HSI  both ease 0.3%
    ** East Buy shares down 64.2% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))