Chinese internet IPOs lose their sheen

After an initial stampede for shares in Chinese internet companies, investors are now worried that another tech bubble is on the way after recent US IPOs from China’s internet players have failed to perform in secondary market trading.

Shares in Chinese dating website Jiayuan.com International, which raised $78 million, fell on their Nasdaq debut. Renren, the Chinese Facebook clone that stormed the US market with a $743 million offering, has also tumbled to below its IPO price despite a 29% spike on its first day of trading. NetQin, a Beijing-based mobile phone security service provider, also slumped on its US debut after an $89 million share...