I did some more testing after a restart, and I realize the up/down difference is more pronounced:

UP
slow swipe: works but a little bit unresponsive
medium swipe: ok, medium scroll speed
fast swipe: ok, fast scroll speed

DOWN
slow swipe: completely still
medium swipe: jerky, unresponsive
fast swipe: ok, fast scroll speed

Thus it is possible to scroll down using strong "flicks" but not with a smooth movement.
A similar problem seems to be reported here long ago:
https://productforums.google.com/forum/#!topic/chrome/x0RzqyS9U2c
but the fix in about:flags doesn't make any difference today.

Unable to repro this issue on Windows 10 for Google Chrome Stable Version - 53.0.2785.89

URL Tested: https://en.wikipedia.org/wiki/Google

@mikewse: Could you please perform the steps mentioned beneath and let us know your observations.

1. Update your Google Chrome to Latest Stable Version - 53.0.2785.89
2. Re-test the same on a clean profile [chrome://settings -> Add Person -> Do not Login]

Thank you.

I have updated to the specified .89 (latest) version. I should note also that I am on the 64-bit version.

The issue is still the same.

I think it is critical to test this on a laptop with an ALPS touchpad as this device seems to have some special behaviour, as indicated by other reports f ex  issue 370578 .

I'll try to make a video of the problem and post in a followup.

Here's the video visualizing the problem:
https://www.youtube.com/watch?v=8eynF1_1TMM

In the video I compare Chrome with Edge where the latter works as expected.
I also included a comparison of the Brackets code editor with Notepad. Brackets is based on Chromium and shows the same problem.

Thank you for providing more feedback. Adding requester "rnimmagadda@chromium.org" for another review and adding "Needs-Review" label for tracking.

For more details visit https://www.chromium.org/issue-tracking/autotriage - Your friendly Sheriffbot

Unable to repro this issue on Windows 10 for Google Chrome Stable Version - 53.0.2785.143

URL Tested: https://en.wikipedia.org/wiki/Google

Does your laptop have an ALPS touchpad?
On another laptop with a Synaptics touchpad I don't see the problem so I think this is a critical part of the setup. (I would modify the subject line to reflect this but can't find how)

@MTV: Could someone please try to repro this issue on an ALPS touchpad. Since we don't have the Hardware available with us.

Thank you.

The bug seems to be solved!

As my Chrome installation was updated to "54.0.2840.71 m (64-bit)" I noticed a different behaviour. Both two-finger scrolling and inertial/momentum scrolling now work as they should.

The bug still shows in my Brackets installation which haven't updated and is still on "Release 1.7 build 1.7.0-16898". Brackets bundles its own version of Chromium so this seems like good evidence that the bug was solved by the new Chrome version and not by any other factor.

Issue has not been modified or commented on in the last 365 days, please re-open or file a new bug if this is still an issue.

For more details visit https://www.chromium.org/issue-tracking/autotriage - Your friendly Sheriffbot