China slams the brakes on Ant Group's US$37bil listing (updated)

HONG KONG/NEW YORK: China suspended Ant Group's US$37 billion listing on Tuesday, thwarting the world's largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma.

The Shanghai stock exchange said it had suspended the company's initial public offering (IPO) on its tech-focused STAR Market, prompting Ant to also freeze the Hong Kong leg of its dual listing scheduled for Thursday.