Shares of Chinese companies listed in the US have fallen, making their biggest fall since the 2008 financial crisis.

The Nasdaq Golden Dragon China Index, which is the 98 biggest US-listed Chinese stocks fell by almost 15% in the last two trading sessions.

The fall came after a series of crackdowns by Beijing on its technology and education industries.

This has led to around $770bn (£556bn) being wiped off the value of US-listed Chinese stocks in the last five months.

The latest development saw Beijing unveiled a massive overhaul of China’s $120bn private tutoring sector, this means all institutions offering tuition on school curricula will be registered as non-profit organisations.

The rules stated that “Curriculum subject-tutoring institutions are not allowed to go public for financing; listed companies should not invest in the institutions, and foreign capital is barred from such institutions.”

This press hard the stock market value of private education firms in the US, Hong Kong and mainland China.

LEAVE A REPLY

Please enter your comment!
Please enter your name here