Hong Kong stocks had a muted start on Wednesday ahead of the highly anticipated Trump-Xi meeting in Washington, amid lower oil prices as traders grew optimistic about a possible resolution to the U.S.-Iran war.

The Hang Seng Index opened marginally lower at 25,064.84. The Hang Seng China Enterprises Index barely moved, edging lower to 8,356.55.

Chinese President Xi Jinping is expected to arrive on Wednesday for a three-day state visit to the U.S., with trade as a focal point, among other matters. While it was not immediately clear which business executives would join Xi's envoy, U.S. President Donald Trump is expected to have top executives from the "Magnificent Seven" companies on his side for the summit.

Meanwhile, the global oil benchmark slipped for a sixth straight session and traded below $90 per barrel after U.S.-Iran talks progressed positively, while Saudi Arabia worked on restoring operations at a crucial pipeline and explored options to restore oil exports via a different terminal that would avoid the Strait of Hormuz.