An uncertain outlook at HSBC is likely to keep the market cautious about the global lender, according to Hargreaves Lansdown Stockbrokers, after 2014 results on Monday came in below forecasts."Disappointing numbers and a cautious outlook from HSBC resulted in some strong negative pressure on its share price, also depressing what had been a perky opening for the wider market," said head of equities Richard Hunter.The stock was down 6% at 568.9p by 10:30.The company reported a 17% drop in pre-tax annual profit to $18.68bn, well below the $21.5bn estimated by analysts, following $3.7bn in fines, settlements, UK customer redress and associated provisions. Operating costs also cut into earnings, increasing 6.1% to $37.9bn.On a positive note, Hunter pointed out that HSBC's exposure to the relatively strong Asian markets "vindicated the bank's geographical diversification".Revenue grew to $62bn from $61bn, driven by a strong performance in its commercial banking division, particularly in Hong Kong and the UK.Meanwhile, its capital position remains strong, supporting the company's dividend yield of 5.2% which is "of solace to shareholders", Hunter said."Given the wider sectoral issues, HSBC has had a difficult year, with the shares having dropped 7% over the last 12 months, as compared to a 1.5% hike for the wider FTSE100 in that period," Hunter said."With so much fog remaining, the outlook remains less visible than investors would wish, and the market consensus for the shares as a 'hold' is likely to remain intact for the time being."