HONG KONG: Wireless services firm TOM Online Inc fizzled on its first day of trading while diesel engine maker Weichai Power Co Ltd jumped 29% on its market debut here yesterday – a sign that investors are starting to watch earnings prospects amid the Chinese initial public offering (IPO) mania.
TOM Online shares closed 7% below their offer price as investors worried about its growth prospects and rich valuation. The stock had ended unchanged in its Nasdaq debut in New York overnight.