Weibo Corp.’s done half the job that Twitter Inc. has in turning its microblogging users into earnings. That may explain why the Chinese company is seeking as little as half the valuation in its initial public offering.
China’s stocks declined the most in five weeks, led by financial companies and commodity producers, as the slowest increase in the nation’s money supply on record underscored risks of a deeper economic slowdown.
China’s benchmark stock index extended the biggest five-day rally in eight weeks as Chongqing Changan Automobile Co. led gains for consumer-discretionary shares and China Petroleum and Chemical Corp. rose. Banks fell.