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The Hang Seng Index fell 0.2 per cent to 26,390.32 as of 10.05am local time. The Hang Seng Tech Index gained 0.1 per cent.
On the mainland, the CSI 300 Index and the Shanghai Composite Index both retreated 0.1 per cent.
Chinese sportswear maker Li Ning dropped 4.1 per cent to HK$16.91 and peer Anta Sports Products fell 3.4 per cent to HK$84.90. Alibaba Group Holding slipped 0.7 per cent to HK$172.40 and Tencent Holdings lost 0.8 per cent to HK$651. Tempering losses, HSBC added 1.3 per cent to HK$103.30 before its quarterly report at the noon break.
Xi and Trump are due to meet at the Asia-Pacific Economic Cooperation summit in South Korea on Thursday, their first meeting since the latter returned to the White House in January. The meeting came after representatives from the two nations reached a preliminary deal on a wide range of issues from tariffs to rare earth exports earlier this week.
HSBC may report a 13 per cent profit decline from a year ago based on the international accounting standard, according to the estimate of analysts polled by Bloomberg.
