China’s regulatory crackdown has wiped hundreds of billions off the market capitalisations of some of its largest companies and put investors on alert over who may be next
China is cracking down on some of its largest companies with regulatory stings wiping hundreds of billions of dollars off their market value.
From technology, to education and property – it seems no sector is safe from Beijing’s far reaching tentacles.
Let’s take a closer look at who’s been affected so far.
First up is Alibaba.
China’s biggest e-commerce company was founded by this man, once China’s richest person – Jack Ma.
Ma made a speech back in October 2020 blasting the country’s regulatory system.
Those stinging comments are widely viewed as the trigger for what came next. Beijing abruptly suspended the record $37 billion stock market debut of Alibaba’s financial affiliate Ant Group.
Later, Chinese regulators fined the company $2.75 billion for abusing its market dominance. Alibaba’s U.S.-listed shares have shed more than $400 billion in value since Ma made that speech.
Next up is China’s largest gaming and social media company Tencent. It was fined for failing to report past deals to anti-trust regulators.
Tencent has also been affected by China’s latest efforts to combat gaming addiction among minors.
In August under-18-year-olds were banned from playing video games for more than three hours a week. The company has lost nearly $350 billion in market value since February.
The food delivery company – Meituan – became another target of an antitrust probe in April, after its founder and Chief Executive Wang Xing posted an ancient poem on social media.
Some perceived it as criticizing the government and President Xi Jinping. Meituan has lost more than $150 billion in value since February.
The company has also been accused of violating consumer rights and mistreating delivery drivers.
China’s largest provider of private educational services has seen its value tumble following a policy shift in Beijing.
In July, the Communist Party issued new rules barring for-profit tutoring on the school curriculum.
Since then, the market value of New Oriental Education and Technology Group’s U.S. listed shares has fallen by $7.4 billion.
Beijing wants to ease pressure on school children and reduce a cost burden on parents.
BEIJING, CHINA – MAY 15: Chinese President Xi Jinping attends a news conference at the end of the Belt and Road Forum for International Cooperation on May 15, 2017 in Beijing, China. The Forum, running from May 14 to 15, is expected to lay the groundwork for Beijing-led infrastructure initiatives aimed at connecting China with Europe, Africa and Asia. (Photo by Nicolas Asfouri-Pool/Getty Images)
But analysts warn that the new rules threaten to decimate the country’s private education sector.
So what’s the motive behind Beijing’s regulatory crackdown?
President Xi Jinping has called for China to achieve “common prosperity.”
The campaign seeks to narrow the yawning wealth gap between the rich and the poor.”Common prosperity” as an idea is not new in China, but a sharp escalation in official rhetoric and a crackdown on excesses in industries has rattled investors in the world’s second-largest economy.
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.
The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.
Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.
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In Short:
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.
Gold prices fell over 2% on Thursday, dropping below $4,000 per ounce. The decline followed a strong rise earlier in the year and was influenced by a stronger dollar and profit-taking after a ceasefire deal between Israel and Hamas.Spot gold decreased to $3,959.48 per ounce, while U.S. gold futures for December delivery settled at $3,972.6.
Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.
Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.
An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.
Market Overview
Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.
Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.
In Short:
– North Korean hackers stole over $2 billion in cryptocurrency in 2025, nearly tripling last year’s total.
– A shift to social engineering tactics has led to increased targeting of high-net-worth individuals for cyber attacks.
North Korean hackers have reportedly stolen over $2 billion in cryptocurrency assets in 2025, setting a record with three months still left in the year.
Data from blockchain analytics firm Elliptic indicates that this amount nearly triples the total stolen last year, accounting for approximately 13% of North Korea’s estimated GDP and raising the regime’s total crypto theft to over $6 billion since 2017.
A significant portion of the 2025 theft is attributed to the February hack of cryptocurrency exchange Bybit, which amounted to $1.46 billion.
The FBI has linked this breach to state-sponsored North Korean hackers, who exploited weaknesses in Bybit’s wallet management system. More than 30 additional cyber attacks have also been associated with North Korea this year, including notable breaches at LND.fi and WOO X.
Shift In Tactics
A shift in methodology among North Korean hackers has been observed, as they now focus on social engineering rather than technical exploits. According to Elliptic, the primary vulnerability lies with individuals rather than technology.
High-net-worth individuals and corporate executives are increasingly targeted due to their relatively weaker security measures.
The hackers utilise deceptive tactics, including phishing schemes and fake job offers, to access private cryptocurrency wallets. Intelligence reports suggest that the stolen funds are used to finance North Korea’s nuclear programmes.
The regime has also improved its money laundering techniques by employing various cryptocurrencies and mixing methods to obscure fund origins. Blockchain analysts are actively tracking these stolen assets, with notable progress achieved in identifying recoverable funds.