There are many ways for the British investor to hitch a ride on the Asian growth juggernaut. Two of the most popular over the years have been to invest in HSBC or Standard Chartered, or both.
Both have most of their operations in Asia, though their geographic footprints are not identical. HSBC is far bigger and more global. Standard is a pure play on emerging markets with good footholds in the Middle East and Africa.
Both banks are London listed and London headquartered and at least pay lip service to governance standards — which can be reassuring for UK investors.
Yesterday’s first-half results give shareholders a fresh chance to compare and contrast the two.
HSBC’s 29 per cent slide in pre-tax profit was accompanied