Shares in Lumena Resources, a Chinese chemical maker, jumped at its Hong Kong debut on Tuesday in spite of a sharp deterioration in global investor sentiment overnight, sending a positive signal to a wave of small-to-mid-sized flotations due in Asia later this year.

Lumena shares closed at HK$2.38, or 19 per cent higher than its offer price of HK$2. The Hang Seng index fell 1.8 per cent.