US-listed Chinese stocks resumed their decline on Thursday as investors looked past gains by Didi Global Inc., amid reports the ride-hailing company was considering going private.

The Nasdaq Golden Dragon China Index -- which tracks 98 of China’s biggest firms listed in the US -- fell by 0.5%, reversing some of Wednesday’s surge. Education stocks, the latest target of Beijing’s policy crackdowns, led the decline after two consecutive days of outsized gains. New Oriental Education & Technology Group, Inc. and TAL Education Group dropped by more than 6%, while China Online Education Group shares dipped almost 10%.

Didi, a centrepiece on Beijing’s recent clampdown, saw its shares jump as much as 20% after Dow Jones said the firm is considering going private without naming sources. Bloomberg News reported last week that Chinese regulators were considering a range of penalties for the company, including forcing it to delist.

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