Chinese IPOs in US doldrums

Firms' stateside offerings suffer their longest decline in six years

NEW YORK: Initial public offerings by Chinese companies in the US are suffering their longest slump since at least 2004 after providing twice the return of American IPOs over the past five years.

Chinese companies that sold shares in the US last quarter fell an average 4.8 percent in their first month of trading, with losses deepening to 6.7 percent for companies that debuted in January and February, the most consistent retreat since Bloomberg began tracking the data.