Chinese Share Sales Shrug Off Tariffs, Outshining US and Europe
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Chinese companies have shrugged off US tariffs and powered on with share sales, even as trade-war concerns slowed offerings in the US and Europe.
Initial public offerings, placements and block trades involving Chinese companies such as tea chain Chagee Holdings Ltd. and drugmaker Duality Biotherapeutics Inc. raised a total of $3.4 billion in April, surging almost 90% from a year earlier, according to data compiled by Bloomberg. By contrast, share sales in the US are headed for their worst month in more than a year. In Europe, they tumbled more than 80%.