February 26, 2019 / 8:55 AM / 5 months ago

Hong Kong stocks fall as investors await trade talk outcome

Feb 26 (Reuters) - Hong Kong stocks fell on Tuesday, tracking a correction in Asian markets, as investors waited to see if Washington and Beijing can clinch a trade deal. ** The Hang Seng index fell 0.7 percent to 28,772.06, while the China Enterprises Index lost 0.8 percent to 11,543.95 points.

** President Donald Trump said on Sunday he would delay a tariff hike on $200 billion of Chinese imports in the clearest sign yet that both sides were making progress in the talks, but he also sounded a note of caution, saying a deal “could happen fairly soon, or it might not happen at all.” ** JPMorgan analysts urged investors to “curb some of their enthusiasm” over the trade talks, saying the extension to the deadline was a “foregone conclusion”.

** “Most assumed this action would occur,” they added. “And it is notable that 1) no new deadline date has been set and 2) there weren’t any formal statements published from either side following the talks in Washington.”

** Most sectors fell. The financial sector and the property industry lost 1 percent and 0.7 percent, respectively.

Reporting by the Shanghai Newsroom; Editing by Rashmi Aich

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