Sina Weibo shares jump more than 10% after IPO

Shares of Sina Weibo, China's answer to Twitter, jumped more than 10 percent in initial trade Thursday after an undersubscribed initial public offering.

Ten minutes into trade the shares topped $19, compared with the $17 IPO price.

Weibo's parent, the Chinese Internet giant Sina Corp, sought to raise as much as $380 million listing the subsidiary on the Nasdaq exchange, but only pulled in $286 million as it ran into a market jittery over both tech and Chinese company shares.

But retail buyers jumped on the shares despite a weak market overall.