Shares of Chinese companies, including New Oriental Education & Tech Grp (NYSE:EDU), are trading higher on hopes Chinese regulators will ease their crackdown on tech and internet companies. Strength comes ahead of an expected joint regulatory meeting, which reportedly could occur this weekend.
A South China Morning Post report detailed that the Chinese government is set to hold a meeting with a number of the country's tech giants, potentially alleviating concerns of a further crackdown on the region’s top tech- and tech-related companies.
