HONG KONG: Shares in online fast-fashion retailer Shein fell 8 per cent in their first day of Hong Kong trade on Tuesday (Sep 1), with investors worried about the impact of setbacks that long delayed its listing and have undermined its competitive advantages.
Known globally for selling US$5 tops and US$10 dresses, Shein has been humbled by tariff and duty changes in the US and Europe. Intense scrutiny of its business practices in the West also hampered its attempts to list in New York and London, which were ultimately blocked by Chinese authorities.
The stock was trading at around HK$44.6 in morning trade, valuing the company at around US$24…
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