AUX Electric (02580.HK) saw its stock price plummet by 6.20% in early trading on Tuesday, marking a disappointing debut on the Hong Kong Stock Exchange. The sharp decline comes as the company's shares opened significantly below their initial public offering (IPO) price, reflecting weak investor sentiment.

According to market data, AUX Electric's shares were set to open at HK$16.1 each, considerably lower than the final offer price of HK$17.42 per share that was announced for the global offering. This discrepancy between the offer price and the opening price suggests that investors are valuing the company lower than expected, leading to the substantial drop in stock value.

The weak debut and subsequent price plunge highlight the challenges faced by new listings in the current market environment. Investors appear to be exercising caution, possibly due to broader economic concerns or specific issues related to AUX Electric's business prospects. As trading continues, market participants will be closely watching to see if the stock can recover from its initial setback or if the downward trend persists.