Sound Global (E6E.SG) expected to come under pressure as China-based water treatment firm postpones proposed dual listing in Hong Kong, says Dow Jones. No date was given.

Expectations of stock fetching higher valuations when listed in HK largely behind its gain of as much as 16% since beginning June.

Sound Global had planned to sell 261 million shares in IPO at maximum offer price of HK$5.60 ($1), with listing expected July 6.

Stock halted since morning, no mention yet of when trading will resume; last closed at $0.85. Near-term support at year-to-date low of $0.73 set last month.

Fundamentals unchanged as demand for water treatment facilities in China remains strong, with company still making plans to secure financing to build plants in country.

1Q10 net profit more than doubled to RMB45.5 million ($9.3 million) from RMB18.2 million year earlier on higher revenue.