Nikkei slips as Trump speech, Hong Kong unrest dent mood

* Lack of trade talks progress, Hong Kong protests hit mood
* Topix ends 6-day winning streak, Nikkei slips 0.85%
* Nissan falls after earnings, Fujifilm shines
* REITs extend losses, down more than 6% so far this month

By Hideyuki Sano
TOKYO, Nov 13 (Reuters) - Japanese shares slipped on
Wednesday after a keenly awaited speech from U.S. President
Donald Trump disappointed investors, offering few details on
progress in trade talks with China.
Chaos in Hong Kong also undermined sentiment as the city
prepared for more clashes, with some transport links, schools
and businesses closing after an escalation of violence.
The Nikkei share average .N225 fell 0.85% to 23,319.87,
having cooled since it hit an 13-month high of 23,591 on Friday.
The broader Topix .TOPX lost 0.55% to 1,700.33, ending a
six-day winning streak.
Trump on Tuesday dangled the prospect of completing an
initial trade deal with China "soon", but at the same time
warned he would raise tariffs on Chinese goods "very
substantially" if China does not strike a deal. "I guess it was his usual tactics but it wasn't positive,"
said Hideyuki Ishiguro, senior strategist at Daiwa Securities.
"The market has been overheating so we need a period to cool
down a bit too."
Many market players have said a correction is inevitable
after the Nikkei's sharp rise of recent months - more than 17%
up from its seven-month low marked in early August.
Among blue chips, Nissan Motor 7201.T slid 0.5% after the
carmaker cut its full-year forecast to an 11-year low and posted
a 70% slump in quarterly profit. Since the arrest of the firm's
former chairman Carlos Ghosn almost a year ago, the company has
lost about 30% of value. Elsewhere, GMO Payment Gateway 3769.T dropped 9.3% after
the e-commerce settlement service company's quarterly earnings
and profit guidance for the year to next September fell short of
market expectations.
Fujifilm 4901.T , on the other hand, jumped 6.3% after the
firm reported strong quarterly earnings and estimated it would
make a record annual profit.
In other sectors, however, market sentiment remained fairly
upbeat, with investors snapping up technology shares sensitive
to the global economic outlook. Keyence 6861.T rose 0.6% while
Murata Manufacturing 6981.T gained 0.7%.
Meanwhile, the index of the Jasdaq .NOTC start-up market
ticked up 0.17% to hit an 11-month high.
Real estate investment trusts (REITs) extended their recent
losses, as residual hopes that a U.S.-China trade deal would
ultimately be reached dented their allure as an alternative to
low-yielding bonds.
The Tokyo REIT index .TREIT fell 0.9% to hit its lowest
level in nearly two months, having fallen 6.2% so far this
month.

(Editing by Kenneth Maxwell and Sam Holmes)