Shein shares slide in long-awaited stock market debut

Shares in fast-fashion giant Shein fell by almost 8% in their highly anticipated stock market debut on Tuesday as it 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 has grown 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.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.That gave the company a stock market valuation of $26.3bn.In early trading on Tuesday morning, Shein's shares wer...