SHANGHAI: Chinese shares fell sharply to their lowest levels this year on Monday as investor worries over the impact of government regulations kneecapped the education and property sectors, after Beijing barred for-profit tutoring in core school subjects.
The searing sell-off sent Hong Kong-listed Scholar Education Group shares crashing more than 43%. Hong Kong stocks of New Oriental Education & Technology Group Inc plummeted over 41% after U.S. shares lost over half of its value on Friday. The company provides tutoring and test preparation services in China.
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