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Chinese education technology stocks surged on Friday, adding to a recent rally amid growing optimism on the nation’s equities.
On a day where much of China’s biggest tech, EV, and travel names ticked higher, education stocks stood out as outsized gainers. The pop for Chinese ADRs on Friday comes amid signs that reviews of Chinese companies by US regulators are progressing without a hitch. This has dulled apprehension that many of China’s largest US-listed names are at risk for delisting.
Stocks marking double-digit gains to close the week include TAL Education (NYSE:TAL) +14.17, Gaotu Techedu (NYSE:GOTU) +15.18%, iHuman (IH) +25.13%, and 17 Education & Technology Group (YQ) +26.64%. New Oriental Education & Technology Group Inc. (NYSE:EDU) also notched a 4.54% on Friday.
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Image and article originally from seekingalpha.com. Read the original article here.