Jul 28, 2021 7:00:00 AM | LGT Navigator
LGT Navigator: New Chinese regulations cause unrest worldwide
Over the weekend, the Chinese government announced several new regulations, one of which targeted the education sector. The new regulations were much more severe than anyone had expected, going as far as requiring education companies to convert to non-profit organizations. This basically threatens to extinguish an entire business sector. Investor reaction was harsh, and the Hang Seng Index has since slumped by around 8%.