* Hang Seng index ends down 0.87 pct
* China Enterprises index HSCE falls 0.47 percent
* HSI financial sub-index down 0.8 pct; property sector up 0.2 pct
Nov 29 (Reuters) - Shares in Hong Kong fell on Thursday, with investor concerns about slowing growth and apprehension over possible outcomes of a meeting between the Chinese and U.S. presidents undoing early gains sparked by hopes for a slower pace of U.S. rate hikes.
** The Hang Seng index closed down 0.9 percent at 26,451.03, while the China Enterprises Index lost 0.5 percent to 10,584.93. ** The index had risen as much as 0.9 percent in early trade, after U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank’s policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy U.S. economy - comments that many investors read as signalling the Fed’s three-year tightening cycle is drawing to a close. ** But analysts at RBC Capital Markets said “markets are over interpreting Powell’s reference to rates being ‘just below the neutral range’ and ... underprice the risk of policy normalisation next year.” ** The sub-index of the Hang Seng tracking energy shares dipped 0.1 percent, while the IT sector fell 1.24 percent, the financial sector ended 0.84 percent lower, while the property sector rose 0.22 percent. ** The top gainer on the Hang Seng was Henderson Land Development Co Ltd, which gained 1.91 percent, while the biggest loser was Galaxy Entertainment Group Ltd, which fell 4.36 percent. ** China’s main Shanghai Composite index ended down 1.3 percent at 2,567.44. The blue-chip CSI300 index also closed 1.3 percent lower. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.65 percent, while Japan’s Nikkei index closed up 0.39 percent. ** The yuan was quoted at 6.9458 per U.S. dollar at 08:22 GMT, 0.12 percent firmer than the previous close of 6.954. ** The top gainers among H-shares were GF Securities Co Ltd up 2.08 percent, followed by PICC Property and Casualty Co Ltd, gaining 1.77 percent and Byd Co Ltd , up by 1.28 percent. ** The three biggest H-shares percentage decliners were CSPC Pharmaceutical Group Ltd, which was down 3.19 percent, China Resources Land Ltd, which fell 2.6 percent and China Huarong Asset Management Co Ltd, down by 2.5 percent. ** About 1.52 billion Hang Seng index shares were traded, roughly 85.3 percent of the market’s 30-day moving average of 1.78 billion shares a day. The volume traded in the previous trading session was 1.46 billion. (Reporting by Andrew Galbraith; Editing by Gopakumar Warrier)