NEW YORK (CNN/Money) -
Shares of online travel site Orbitz Inc. sank while China's largest life insurer, China Life Insurance Co. Ltd., soared in heavy trading, with both unable to hold on to early gains made in their U.S. debuts Wednesday.
Shares of Orbitz Inc. (ORBZ: Research, Estimates), which is controlled by a group of the biggest U.S. airlines, ended 3.9 percent lower on the Nasdaq, at $24.98. They were priced at $26 per share, above the expected range of $22 to $24 a share, and at one point jumped 15 percent, to $30.
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 Beijing-based insurer China Life and online travel site Orbitz made their U.S. debuts today. CNNfn's Stephanie Elam reports.
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A government investigation into the company's role in airline industry competition had delayed the IPO, but the Justice Department dropped the probe in July.
Elsewhere, shares of China Life Insurance (LFC: Research, Estimates) rose to $23.72 from an offering price of $18.68. They had climbed as high as 34 percent early in their trading debut amid continuing interest in companies that operate in China but then lost some of those gains.
The largest life insurer in the world's most populous nation saw its offering 25 times oversubscribed as investors renewed their craving for IPOs and clamored for a piece of the Chinese economy, which is growing at more than 8 percent a year.
Its American depositary shares, which equal 40 Hong Kong-listed shares, were trading as high as $25 in the midmorning, and the stock was the most active issue on the New York Stock Exchange.
U.S. investors are keen to buy into China as increasing wealth among its 1.3 billion people fuels demand for everything from cars to mutual funds.
China Life, whose market share is about 45 percent, will make its trading debut in Hong Kong Thursday.
Small Hong Kong investors, emboldened by the robust first-day performance from recent IPOs by mainland firms in the city, had lined up outside bank branches last week to apply for China Life shares in a frenzy not seen since the dot-com era.
Meanwhile, shares of Provide Commerce (PRVD: Research, Estimates), an online vendor of flowers and other perishable items, fell about 13.3 percent to $13 in their Nasdaq debut after pricing 4.3 million shares at $15 each.
--from staff and wire reports
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