LONDON—HSBC and Standard Chartered could face spillover damage to their profits and balance sheets from the debt crisis enveloping China Evergrande Group even though the two banks say they have limited their direct exposure, analysts have warned. Other banks and insurers could also suffer indirect effects such as loss of fees or a devaluation of their investments. HSBC and StanChart make a big chunk of their profits in China and Hong Kong and they have been the foreign banks most involved in underwriting syndicated loans for developers there. That means they are likely to face the most immediate second-order impacts, analysts at JPMorgan said in a research report. HSBC and Standard Chartered both declined to comment on the report. Evergrande has left global investors guessing over whether it will make a key interest payment, adding to fears of big losses for bondholders and sending tremors through China’s property sector and …