Beijing Enterprises Water Slides Most in Six Months in Hong Kong

Dec 20, 2013 6:37 am ET

Dec. 20 (Bloomberg) -- Beijing Enterprises Water Group Ltd., a Chinese developer of water-treatment systems, fell the most in six months in Hong Kong trading after hitting a 12-year high last week.

The stock dropped 5.2 percent, the biggest decrease since June, to close at HK$4.41 today after earlier tumbling 10 percent on double the average 3-month daily trading volume. The benchmark Hang Seng Index slipped 0.3 percent in comparison.

The decline trimmed the water-treatment company’s share gain this year to 121 percent and came after China’s benchmark money-market rate reached its highest since June, causing utilities to drop.

--Feifei Shen. Editors: Randall Hackley, Tony Barrett