Alibaba's m-cap falls by $60 bn after Ant Group's IPO suspension
Ant Group's IPO being held up in Shanghai and Hong Kong has caused a sell-off of Alibaba shares. Sister-company Alibaba's shares fell around 8% which resulted in a cut of $60 billion in market capitalisation in one day as reports of Ant's regulatory issues with China emerged. Ant Group spun out of Alibaba, which owns 33% in the fintech major. 