PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, Aug 5 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or website editions on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- Europe's biggest bank, HSBC (HSBA.L)(0005.HK), warned that the credit crisis was beginning to hit Asia as the banking group signalled that emerging markets would not be immune to a severe economic slowdown in the US.

-- Motorola (MOT.N) scored a coup on Monday with the recruitment of a highly rated executive -- Sanjay Jha, Qualcomm (QCOM.O) chief operating officer, to head its mobile phone business, which will be spun out of the U.S. electronics group next year.

-- Vietnam announced tough measures to contain rampant inflation, warning companies they could be prosecuted for passing on higher commodity costs to customers.

WALL STREET JOURNAL (www.wsj.com)

-- Attackers killed 16 Chinese paramilitary police in a raid with a dump truck and grenades that also injured more than a dozen other policemen in a predominantly Muslim part of northwest China Monday, highlighting security risks ahead of the Beijing Olympics.

-- China's sway over mergers will not be as strong as initially thought, according to rules on the working of a new antitrust law.

-- Philippine President Gloria Macapagal Arroyo's push to unlock the economic potential of the strife-torn but resource-rich southern Philippines is running into unexpected legal and political obstacles.

-- China's Sinopec (600028.SS) and India's Oil and Natural Gas Company (ONGC) are again facing off on energy as they make rival bids for London-listed Imperial Energy IEC.L, which primarily produces oil in Russia.