UBS has cut its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases.It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earnings forecasts "to reflect further falls in risk-free rates and the likely knock-on to corporate and retail customers' behaviour from the Eurozone fiscal and banking crisis currently underway."More seriously, UBS slashes its target price on Standard Chartered to 1,600p from 1,830p, yet keeps its "buy" rating on the stock."The funding challenges afflicting Eurozone banks described in Here we go again, 16 September 2011 (a UBS note) are likely driving inflows into what is widely viewed as a safe haven bank," UBS says.However, it adds: "But the GDP effects of a banking crisis are typically large, as companies shift from expansion to cash conservation and the inventory RBS has lowered its rating and target price on Man Group after the hedge fund manager's poorly received trading statement yesterday."---RG