HK shares drop 3 pct; biggest 1-day slide in 3 mnths

HONG KONG, Aug 12 (Reuters) - Hong Kong shares slid 3 percent on Wednesday, posting its biggest single-day drop in three months, after a sharp sell-off on the Shanghai bourse and overnight losses on Wall Street gave investors an excuse to take profits on recent sharp gains.

The benchmark Hang Seng Index .HSI finished 638.97 points lower at 20,435.24, falling off a 12-month closing high above 21,000 points in the previous session.

The China Enterprises Index .HSCE, which represents top locally listed mainland Chinese stocks, was down 2.8 percent at 11,656.32. (Reporting by Parvathy Ullatil; Editing by Chris Lewis)