Shein shares drop 10% on Hong Kong debut, valuation falls to $24bn

Shein's shares fell by up to 10% on their Hong Kong trading debut, cutting the group's valuation to $24 billion — 75% below the $98 billion valuation from 2022, according to Reuters. The long-awaited listing came after years of public backlash over the fast-fashion giant's labour practices and ethical concerns.