Hong Kong stocks ended flat on Friday as investors closely watched the outcome of the talk between US President Donald Trump and Chinese counterpart Xi Jinping.

The Hang Seng Index finished little changed at 26,545.10, while the Hang Seng China Enterprises Index (HSCEI) barely moved in positive territory to close at 9,472.35.

Trump and Xi are expected to hold their first known call in three months on Friday, with a potential agreement to keep TikTok operating in the United States high on the agenda alongside trade talks.

The US president told Fox News on Thursday it seemed Beijing had approved a deal on the short-video app, Reuters reported.

In corporate news, GenFleet Therapeutics (HKG:2595) debuted in Hong Kong and closed about 106% higher at HK$42.10, compared with its offer price of HK$20.39.

China Properties Investment (HKG:0736) gained over 4% after announcing a potential fundraising to strengthen its financial position and provide additional working capital.

Meanwhile, Zijin Gold International (HKG:2259) launched its initial public offering, seeking up to HK$25 billion, in what is poised to be the city's second-largest listing this year.