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| Weibo shares surge on US debut, despite low opening price | Weibo shares surge on US debut, despite low opening price |
| (1 day later) | |
| Shares in China's Weibo, a Twitter-like service, rose by almost 20% on their first day of trading on the US stock market, after a lukewarm start. | Shares in China's Weibo, a Twitter-like service, rose by almost 20% on their first day of trading on the US stock market, after a lukewarm start. |
| The company's flotation on the Nasdaq stock exchange had initially raised a less-than-expected $286m (£170m). | The company's flotation on the Nasdaq stock exchange had initially raised a less-than-expected $286m (£170m). |
| However, investors flocked to the shares, and they ended the day at $20.24, after opening at $17. | However, investors flocked to the shares, and they ended the day at $20.24, after opening at $17. |
| The number of Weibo users fell after China's censors strengthened control of online discussions last year. | The number of Weibo users fell after China's censors strengthened control of online discussions last year. |
| The China Internet Network Information Center said in its annual report that almost 28 million people abandoned Weibo in 2013. | The China Internet Network Information Center said in its annual report that almost 28 million people abandoned Weibo in 2013. |
| The sale is a big test of demand for Chinese internet stocks ahead of an anticipated listing by Weibo's co-owner, the Alibaba group. | The sale is a big test of demand for Chinese internet stocks ahead of an anticipated listing by Weibo's co-owner, the Alibaba group. |
| China's internet market has grown to become the world's biggest with more than 500 million users. | China's internet market has grown to become the world's biggest with more than 500 million users. |
| With major global social networking firms such as Facebook and Twitter blocked in the country, domestic companies have benefited the most from this growth. | With major global social networking firms such as Facebook and Twitter blocked in the country, domestic companies have benefited the most from this growth. |
| However, the growing popularity of social media platforms has also attracted the attention of authorities who have moved swiftly to silence voices online. | However, the growing popularity of social media platforms has also attracted the attention of authorities who have moved swiftly to silence voices online. |