Sinotruk, China’s leading heavy truck manufacturer, saw its shares fall more than 15 per cent on market debut in Hong Kong on Wednesday – the latest victim of weakening investor sentiment across Asia for initial public offerings.

Sinotruk, which raised $1.2bn in an offering that was 300 times subscribed by retail investors, closed at HK$10.86, down 15.7 per cent – the worst first-day performance in Hong Kong this year.