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Chinese tech IPO has a big first day

Chinese tech IPO has a big first day

A single encouraging IPO can't cure all that's gone awry lately for Chinese stocks, the technology sector or the market for initial public offerings. But the closely watched debut of Chinese e-commerce company Inc. did more than its part Thursday. Shares of the Chinese online retailer rose solidly in the company's first day of trading, stirring hope that tech stocks — and, in particular, recently bloodied Chinese tech stocks — are on the mend. set Wall Street abuzz late Wednesday when the company priced its IPO at $19 a share, topping the expected range of $16 to $18. The company raised nearly $1.8 billion. The stock rose as much as 20%...