Why Gaotu Techedu, New Oriental Education And TAL Education Shares Are Soaring Higher

Gaotu Techedu Inc GOTU, New Oriental Education & Tech Grp EDU and TAL Education Group TAL shares are trading higher by 6.90% to $1.24, 11.30% to $24.53 and 6.28% to $5.08 Monday morning. Shares of Chinese companies at large are trading higher, strength may be due to hopes of China easing COVID-era restrictions for travelers in Macau.

What Happened?

Macau's chief executive Ho Iat Seng has said China would resume an e-visa scheme for mainland travelers and permit group tours, per Reuters. 

The report suggests that for the first time in nearly three years, mainland tour groups will resume in November in China's special administrative region. Currently, Chinese tourists to Macau are required to book a visa appointment...Read More

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