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Chinese education stocks were on the rise Friday despite a lack of news specifically related to these companies. Instead, it looks like Chinese education stocks are continuing their recent upward momentum as investors react to the easing of Covid-19 restrictions in the country. This comes as China moves away from its zero-Covid policy.
The policy has done great damage to China’s economy over the past few years. This is due to various lockdowns which have kept businesses from taking part in normal operations. The result of this is supply chain problems that affect other parts of the world as well.
We’ve seen Chinese stocks starting to bounce back from the damage done by the pandemic. Now, it seems that stocks in the sector are steadily increasing in hopes that lockdowns will be a thing of the past.
Let’s see how this affects some of today’s Chinese education stocks below!
China’s Education Supplies Rise Today
- TAL Education (NYSE:TAL) off the list as shares of the Chinese company rose an impressive 14.7% higher Friday afternoon.
- New Oriental Education & Technology (NYSE:EDU) shares are also on the rise today with this company’s stock up 4.8% as of this writing.
- Gaotu Techedu (NYSE:GOTCHA) shares also rose on Chinese education stocks with a 15.2% gain this afternoon.
Investors can find more of the latest stock market news for the day below!
We have all the latest happenings traders need to know about on Friday! Among them is what happened to stocks applied UV (NASDAQ:AUVI), Carvana (NASDAQ:CVNA) and Angry (NASDAQ:AGFY) supply. You can find out more about this issue in the link below!
More Friday Stock Market News
As of the date of publication, William White does not own (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the authors, subject to InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2022/12/why-are-chinese-education-stocks-tal-edu-up-today/.
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