Hong Kong stocks fell on Tuesday as hopes of stimulus measures to prop up the economy faded amid the de-escalation of a US-China trade war.

The Hang Seng Index fell 1.87%, or 441.19 points, at 23,108.27. The Hang Seng China Enterprises Index also slid 2.02%, or 173.02 points, at 8,386.21.

Sentiment dampened on speculation that the trade truce may delay or eliminate the likelihood of fiscal support measures previously promised by Beijing. Investor confidence was also shaky amidst skepticism over the US government's commitment to see the proposed tariff reduction deal through.

The market needs to evaluate the medium- to long-term risk despite the rebound as clashes between the US and China may continue, the South China Morning Post reported citing Lu Ting, Nomura's chief China economist in Hong Kong.

In company news, e-commerce firm JD.com (HKG:9618) fell over 2% ahead of the release of its quarterly earnings report later today.

Meanwhile, Beisen Holding (HKG:9669) expects an attributable loss of between 130.5 million yuan and 195.7 million yuan for the year ended March 31, down from 3.21 billion yuan a year prior. Its shares closed nearly 2% higher.