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HSBC warns of possible US writedown as profits rise

HSBC yesterday said its profits are rising but its warning of a possible writedown of its US business and a faltering economy in the Far East left investors wary.

HSBC yesterday said its profits are rising but its warning of a possible writedown of its US business and a faltering economy in the Far East left investors wary.

It was a day of surprises from some of the banks thought to have weathered the credit crunch best.