EMERGING MARKETS-Shares dip after Trump's trade speech, Hong Kong protests

Emerging-market shares fell for the third time in four sessions on Wednesday as U.S. President Donald Trump offered little clues on a trade truce with Beijing, while shares in Hong Kong led declines after escalating anti-government protests.

MSCI's index of emerging market shares shed 0.9% to their lowest level in nearly two weeks. The index is on track for its first weekly decline in six as investors grow wary that a U.S.-China trade pact will indeed be signed. Addressing the Economic Club of New York on Tuesday, Trump said a deal with China was "close", but gave no new details on when or where an agreement would be signed.

"The market really needs to see a date and a location for the meeting," said Chris Turner, head of EMEA and LATAM research at ING. "The jury's out right now and it feels like the market's prepared to give the progress the benefit of the doubt in a way and still price in that a 'phase one' deal is still concluded by the end of the year."

Chinese blue-chip stocks fell slightly, while the yuan eased to a one-week low against the dollar as Trump also said he would raise tariffs on Chinese goods if the two sides failed to reach a deal. Hong Kong shares dropped 1.8% to a one-month low as protesters paralysed parts of the Asian financial hub for a third day, with transport, schools and many businesses closing after violence spread across the city.

In eastern Europe, the focus turned to Turkish President Tayyip Erdogan's meeting with Trump, after which they are scheduled to hold a joint news conference. Turkey stocks were among the few bright spots of the day, rising 0.2%, while the lira firmed against the dollar.

But other currencies in the developing world, including the South African rand and the Russian rouble, lost ground against the dollar, which held near one-month highs. In Russia, all eyes will be on the third-quarter preliminary GDP figures due later in the day, with analysts expecting the economy to expand by 1.6%, according to Refinitiv data.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)