ESTUN's stock plummeted 14.97% during intraday trading on Monday, marking a sharp decline for the industrial robot maker on its Hong Kong trading debut.

The stock's significant drop is attributed to souring investor sentiment driven by the ongoing war in the Middle East. The conflict has sent oil prices surging and stoked worries about a potential hit to global growth, negatively impacting market debuts in Hong Kong. ESTUN priced its shares at the bottom of its initial public offering range, and the broader risk-off mood led to the steep intraday decline.

Hong Kong had seen a strong start to the year for share sales, but the geopolitical uncertainty has dampened the momentum for new listings. ESTUN was among three companies making their market debut, all of which faced pressure from the deteriorating market environment.