Why JD, Huya, and New Oriental Education Stocks Tumbled on Monday
Stocks of some of China's most popular companies slumped on Monday after fears arose regarding the potential for another COVID-19 surge. Shares of JD.com (NASDAQ: JD) slipped as much as 5.6%, New Oriental Education & Technology Group (NYSE: EDU) fell as much as 10%, and Huya (NYSE: HUYA) slumped as much as 10.7%. Several developments weighed on the major Chinese market indexes on Monday, as the Hang Seng Index declined 2.8% and the Shanghai Composite Index was down 1.3%.