The education sector is the latest in China to feel the regulatory fallout.
Beijing’s crackdown on education got Wall Street’s attention anew on Monday, with more downgrades for U.S.-listed shares as analysts tallied up damages.
Fawne Jiang, an analyst at The Benchmark Company, said in a note to clients on Monday that the new policies will have a “profound impact on the AST [after-school tutoring ] industry and adversely change the course of the operation and the financial outlook of the industry participants.” A statement from yet another U.S.-listed player, Youdao DAO, -33.88%, a China-based intelligent learning group, said the rules would have “material impacts” on its K-12 course business, and added it was looking at ways to try to comply. Shares of Youdao fell 26% on Monday after a 42% tumble on Friday.
“The question more broadly is whether this will have broader ramifications for other tech companies in China. It is beyond our remit to judge, but with separate stories about regulation of music it is beginning to look like there might be,” he said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Beijing accuses US of treating China as 'imaginary enemy' in meeting between top diplomatsThe breakdown in US-China relations is due to some people in the United States treating China as an 'imaginary enemy,' Chinese Vice Foreign Minister Xie Feng was quoted as saying during a meeting with US Deputy Secretary of State Wendy Sherman on Monday, according to a statement provided by the Chinese Ministry of Foreign Affairs.
Consulte Mais informação »
Can the US beat China in medals race at Olympics? China takes early leadThe U.S. has gotten off to a shaky start, and the Chinese have excelled so far. China is expected to haul a heavy medal load in table tennis, diving and gymnastics.
Consulte Mais informação »
'Disturbing' actions by China signals early stages of a cold war, economist Stephen Roach warnsYale’s Stephen Roach, who served chairman of Morgan Stanley Asia, believes Beijing’s crackdown against U.S.-listed China stocks have major market implications.
Consulte Mais informação »
China criticizes NBC Universal for showing 'incomplete map'China criticizes NBC Universal for showing an 'incomplete map' of the country, which did not include Taiwan or the South China Sea, in its broadcast of the opening ceremony of the Tokyo Olympics.
Consulte Mais informação »
China Box Office: Animated Film ‘Green Snake’ Worms Its Way to No. 1“Green Snake,” the Chinese animated sequel to the folktale adaptation “White Snake,” slithered past propaganda films to the top of the box office this weekend with a $29.7 million debut, acco…
Consulte Mais informação »
China sends supplies to flooded area, rebuilds barriersTrucks carrying water and food are streaming into a city in central China after flooding killed at least 63 people while soldiers repaired flood barriers.
Consulte Mais informação »