Fibocom Wireless (HKG:0638), a wireless communication module maker, saw its shares plummet 12.09% in its first day of trading on the Hong Kong Stock Exchange. The stock's poor performance came as a surprise to many investors who had anticipated a strong debut.

The company's shares opened flat at HK$21.50, matching its initial public offering (IPO) price. However, investor sentiment quickly soured throughout the trading day. By the market close, Fibocom's stock had fallen to HK$18.98 per share, representing a significant decline from its offering price.

The weak debut of Fibocom Wireless occurred against the backdrop of broader market concerns. Hong Kong stocks closed lower on Wednesday, with the Hang Seng Index dropping 0.94% amid lingering trade tensions between the United States and China. This overall market sentiment may have contributed to the negative pressure on Fibocom's stock price. As the company faces a challenging start in the public market, investors will be closely watching its performance in the coming days to gauge its long-term potential.