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* Hang Seng -0.3% but makes weekly, monthly gains; H-shares -0.1%
* Trump hopes for 'productive' talks; Xi blasts protectionism
* Local markets will be closed on July 1 for public holiday
HONG KONG, June 28 (Reuters) - Hong Kong stocks ended Friday and the week lower, paring some of their monthly gains, shortly before a highly anticipated talk between Chinese President Xi Jinping and his U.S. counterpart Donald Trump at the G20 summit this weekend.
** Trump and Xi will hold trade talks on Saturday at the G20 summit in Osaka, Japan. Friday was the last trading day before the anticipated meeting.
** At the close of trade, the Hang Seng index was down 0.3% at 28,542.62 points, but gained 0.2% for the week. The benchmark ended up 6.1% month-on-month, underpinned by upbeat trade developments earlier in June.
** The Hang Seng China Enterprises index ended 0.1% lower on Friday, down 0.4% week-on-week.
** The sub-index of the Hang Seng tracking energy shares ended down 0.7%, the IT sector closed 0.1% lower, the financial sector ended flat and the property sector dropped 0.5%.
** On Friday, Xi criticised some developed countries for taking protectionist measures that are leading to trade conflicts and economic blockade - calling them the biggest risk of the increase in instability in the global economy.
** Trump has agreed to no preconditions for his meeting with Xi and is maintaining his threat to impose new tariffs on Chinese goods, White House economic adviser Larry Kudlow said on Thursday.
** Trump said on Friday he expected a productive meeting with Xi on Saturday, while China's foreign ministry said it hopes the United States will meet China halfway and ensure their meeting is a success.
** The top gainer on the Hang Seng was China Overseas Land & Investment Ltd, which ended 2.5% firmer, while the biggest loser was Want Want China Holdings Ltd, which closed 3.2% lower.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.1%, while Japan's Nikkei index closed down 0.3%.
** About 1.53 billion Hang Seng index shares were traded. The volume traded in the previous trading session was 1.73 billion.
** At close, China's A-shares were trading at a premium of 28.30% over Hong Kong-listed H-shares.
** Hong Kong's financial markets are closed on July 1 for the Special Administrative Region Establishment Day holiday and will resume trading on July 2.
(Reporting by Noah Sin, Editing by Sherry Jacob-Phillips)