Up to $340m in fees for Wall Street banks from the blockbuster initial public offering of payments firm Ant Group hang in the balance, as the Chinese regulator has pressed the pause button just days before it was due to list.

The world's largest IPO, which was set to raise at least $34.4bn, is up in the air after the Shanghai Stock Exchange told the company to postpone the listing. The company was due for a record-breaking dual listing across Shanghai and Hong Kong stock exchanges on Thursday 5 November.