Shein shares fall in long-awaited stock market debut

Shares in fast-fashion giant Shein fell in their highly anticipated stock market debut on Tuesday as the firm listed in Hong Kong after a long quest to go public.

It comes after failed attempts to list in the US and UK, as concerns were raised over issues including Shein's labour practices and its environmental impact.

Once estimated to be worth nearly $100bn (£74bn), Shein is now valued at around a quarter of that figure, as the firm faces other challenges like heated competition and trade tensions.

Shein became hugely popular , especially among younger people, due to its ability to source the very latest fashions at ultra-low prices through a vast network of factories in China .

At a ceremony to celebrate the listing, chief financial officer Leigh Gui said the company's model of selling large numbers of small orders with rapid payment options now reaches about 160 markets worldwide.

"Let global consumers enjoy the sound of fashion," he said after a gong was struck to mark the start of trading.

On Monday, Shein priced its shares at HK$48.56 each, raising ‌13.6 billion Hong Kong dollars ($1.7bn; £1.3bn) from the listing.

Shein's shares fell by as much as 10% in early trading before the losses eased. At lunchtime, they were around 3.5% lower at just under 47 Hong Kong dollars each.