Internet IPOs face hurdles as enthusiasm wanes

The love affair between investors and Asian internet stocks has soured - for now at least - as companies find it harder to list.

The love affair between investors and Asian internet stocks has soured - for now at least. Companies seeking to list their shares will find it harder, and many of those already on the market could collapse amid skepticism they will make a profit, analysts say.

People's stupidity only goes so far, and that threshold has been reached, says Marc Faber, a Hong Kong-based investment advisor and editor of the newsletter The Boom, Gloom and Doom Report. New issues will be much more difficult to place, and many that are in the pipeline won't go through at all.

Last month iMerchants, a Hong Kong-based electronic software and services provider, received a...

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