EconomyShein shares end flat in Hong Kong debut

Hong Kong is gaining appeal as a global listing venue and has become one of the busiest markets for new share sales this year amid improving investor sentiment and strong demand. Shein’s shares finished flat on their debut, as concerns grew that setbacks could erode its competitive edge. The Singapore-headquartered company raised about US$1.7 billion at a valuation of roughly US$26 billion, one-quarter of its 2022 peak.