One of China’s best known makeup artists, Mao Geping, became a billionaire as his beauty company soared as much as 87% after beginning trading in Hong Kong, capping a remarkable run that’s seen the former opera performer’s premium powders and lotions defy the nation’s consumer slowdown.

Hong Kong's Hang Seng Index closed 0.5% lower at 20311.28, erasing earlier gains after a heavily traded session. Markets await further clues on China's growth target for next year from the annual Central Economic Work Conference this week,

Mao Geping Cosmetics shares jumped in their trading debut in Hong Kong after an oversubscribed offering that underscores appetite for fresh listings in the Asian financial hub.