WRAPUP 1-Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs as deals slump

Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects. Morgan Stanley is cutting at least 50 investment banking jobs in the region starting this week, three sources with knowledge of the matter said, affecting around 13% of the Wall Street bank's Asia investment banking workforce of 400.