The Presidential Daily Brief

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  1. China’s Weibo Stocks Surge in IPO Debut

    Paying no heed to initial investor jitters, Chinese censorship or slowing user growth, Weibo shares soared as high as 44 percent on its first day of trading. The Twitter-like Chinese micro-blogging company shaved back the number of shares it planned to offer because of investors’ concerns. But it came out of the starting gate strong and ended the day up 19 percent. It’s the first of a wave of Chinese Internet IPOs, including the Amazon-like Alibaba Group, and messaging and video game company Tencent.

    Sources: MashableLA TimesReuters

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