* 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 fell 0.85% to 23,319.87, having cooled since it hit an 13-month high of 23,591 on Friday. The broader Topix 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 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 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, 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 rose 0.6% while Murata Manufacturing gained 0.7%.
Meanwhile, the index of the Jasdaq 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 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)