HSBC boss: Asia may face crunch

A credit crunch stemming from European banks could also hit Asia, HSBC chief executive Stuart Gulliver warned yesterday. Speaking in Hong Kong, Gulliver told the Financial Times that policymakers must be aware of a potential slowdown in the availability of credit. “The strong increases in credit availability in Asia that has supported demand growth cannot continue indefinitely,” Gulliver said. HSBC is due to announce its third quarter results today.