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Livestreaming with bonus English lessons drives HK stock surge

Shares of China's Koolearn double as pivot from online tutoring accelerates

New Oriental's Dong Yuhui offers English lessons while pitching food products on video app Douyin. At right is the headquarters of New Oriental Education & Technology in Beijing. (Source images from Douyin and Reuters)

HONG KONG -- Shares of Koolearn Technology Holding doubled on Monday as investors cheered signs the former Chinese online education platform might be successfully pivoting toward livestream sales.

New Oriental Education & Technology Group, Koolearn's parent, also saw its stock rise as much as 25.5% in Hong Kong before closing up 13.1% at HK$14.48. Koolearn ended the day up 40% at HK$8.72, its highest close in a year.

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