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** Gas distributor ENN Energy Holdings Ltd's shares fall as much as 7.6% to HK$130, lowest since May 3

** Stock extends decline for second straight session

** Company's shares third-biggest pct decliner on Hang Seng China Enterprises index and second-biggest decliner on Hang Seng Composite index

** Brokerage Daiwa reaffirms "outperform" rating on stock, but says share price correction post results in line with expectation amid rich valuation

** Bottom-fishing opportunity for long-term investors after the recent price drop - Daiwa

** Citi downgrades ENN Energy to "neutral" from "buy", says management's dollar margin outlook for H2 2021 will not be easy to achieve amid rising LNG market prices and delayed residential gas price increase

** Hebei-based ENN posts 39.8% y-o-y growth in H1 net profit, 22.3% growth in retail gas sales volume and 30.7% jump in revenue

** Hong Kong Hang Seng Composite index tracking utilities slips 0.1%

** Hang Seng China Enterprises index eases 0.5%, benchmark index slides 0.3%

** As of last close, company's shares up 23.9% this year