TEDU - New Oriental Education leads rally in Chinese education tech stocks

Chinese education stocks rallied on Tuesday after sentiment improved on the tech sector following three days of selling pressure. The education tech sector has seen wild swings this year on delisting fears, COVID headlines, and general risk-off trading in the market. New Oriental Education & Technology Group (NYSE:EDU +22.9%), Gaotu Techedu (GOTU +16.4%), TAL Education Group (TAL +10.2%), 17 Education & Technology Group (YQ +7.8%), Sunlands Technology Group (STG +5.3%), and iHuman (IH +2.3%) all broke higher. Tarena International (TEDU +0.9%) showed a more modest gain on Tuesday, but is the biggest gainer in the sector on a year-to-date basis. What to watch: Both Democrats and Republicans in Congress are pushing for a hardline approach on China and have separately passed legislation to delist companies after two years if they fail to meet audit requirements. If the bill is signed into law, noncompliant companies could be booted from U.S. markets

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New Oriental Education leads rally in Chinese education tech stocks