Messaging app Line soars in Wall Street debut

Shares in the Asian hit messaging app Line surged 33 percent in the first day of trade in New York Thursday in a market hungry for the newest technology IPO. Founder and chief executive Jungho Chin told CNBC television Thursday that the company now dominates the Japanese market and that the IPO will boost its expansion. In early trade on the New York Stock Exchange, the shares rocketed by more than 40 percent from the initial public offering price of 3,300 yen, or $31.20.