* New Oriental Hong Kong shares fell more than 15 per cent in early trading on Friday before narrowing slightly to less than 15 per cent, while New Oriental online fell more than 7 per cent in morning trading before narrowing to less than 5 per cent.

* overnight US stocks closed down 11.13%, Gao Tu classroom (who to learn from) closed down 15.10%, and New Oriental closed down 14.42%. The three companies are often called the Big three.

* Chinese authorities are working on stricter new rules aimed at reducing pressure on students and raising the fertility rate by reducing the cost of living for families, Reuters said on Thursday, citing sources. Under the proposed rules, academic tutoring on campus and on weekends will be banned, and regulators will crack down on out-of-school tutoring, especially English and math, and limit off-campus hours.

(published by Huang Bin; revised by Wu Yunling)
((binbin.huang@thomsonreuters.com; 86-10-56692131;)