HSBC does not seem happy in the United States nor in the United Kingdom. Financial markets and customer debt are under pressure, while repossessions and foreclosures are at an all-time high. HSBC once bragged of making profits in emerging markets. Perhaps that will change as well. ‘Amid signs of trouble in emerging economies like Argentina and South Korea, there is growing concern that HSBC will take a hit,’ said Patrick Shum, strategist with Karl Thomson Securities in Hong Kong.