Hong Kong stock slumps on activist attack

HONG KONG: Hong Kong’s most famous stock picker is on the attack again, criticising the accounts of one of the city’s top performers this year.

Kingdee International Software Group Co dropped 14% at the close yesterday as the worst performer on the Hang Seng Composite Index after David Webb published a critical report calling it a “bubble stock.” Webb did not specify whether he had a short position in the shares, nor what he thinks they should be worth.