HSBC is likely to sell its business in New Zealand but will keep its much larger operation in Australia.Peter Wong, chief executive of HSBC in Asia, told the Financial Times that the bank had decided to focus on six core Asian markets outside of Hong Kong.The key Asian markets are Australia, China, India, Indonesia, Malaysia and Singapore and Taiwan, Wong told the FT.HSBC has already sold, or is selling, its retail banking operations in Japan and Thailand.The bank has also sold its general insurance business in Asia to QBE Insurance Group.HSBC in New Zealand had assets of NZ$5 billion at September 2011. Its annual profit from New Zealand is around NZ$50 million.Net assets of HSBC, which operates as a branch in New Zealand, were only NZ$20 million, according to the most recent quarterly disclosure statement.