(May 14) After plunged yesterday, Chinese education stocks rally in premarket trading.
The changes being worked on by China's Ministry of Education and other regulators are aimed at before-and-after school K-12 tutoring, according to aReuters report,which cited 3 people familiar.
The draft rules may be announced as early as the end of June, Reuters said. The new rules may include on-campus academic tutoring being banned, as well as both on and off-campus weekend tutoring.
Last month, Tal Education was cut to neutral at Nomura partlydue to possible new tutoring regulationsin China.
In late March GSX Techedu(NYSE:GOTU), Tal Education, New Orientalfell at least partly on report on reports of new on-line regulations.
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