Why Shares of Bilibili, HUYA, and New Oriental Education and Technology Are Falling Today

Shares of several Chinese stocks dropped Tuesday on weak economic data and as tensions between the U.S. and China continued to ratchet up. Shares of the video platform Bilibili (NASDAQ: BILI) were trading roughly 3.6% lower as of 11:30 a.m. ET, shares of the live-streaming company Huya (NYSE: HUYA) traded 3.7% lower, and shares of online tutoring company New Oriental Education & Technology Group (NYSE: EDU) were down by about 7.5%. Beijing has relaxed its "zero COVID" policies and ended its strict lockdowns in an effort to get China's economic growth back on track, but amid conflicting data, there has been a lot of debate about whether or not it can bounce back as fast as investors hope.