US asset manager Fidelity halves valuation of Ant Group holding after Chinese crackdown

US asset manager Fidelity halves valuation of Ant Group holding after Chinese crackdown

Ant Group's Hangzhou Headquarters. Source: Ant Group

US asset manager Fidelity Investments has halved the valuation of its shares in Ant Group, the Chinese financial technology company at the centre of a major regulatory crackdown, the Wall Street Journal reported on Monday.