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Why JD, Huya, and New Oriental Education Stocks Tumbled on Monday

·3-min read

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%.