HIGH-flying Eastern will compete in only one Asian club tournament this year even if they become eligible for two by winning this season's league title. The Hongkong Football Association (HKFA) decided at a council meeting last night that Eastern, already this season's Camelpaint Challenge Shield winners, have been entered for the Asian Cup-Winners' Cup but should compete in the Asian Champions Cup instead if they go on to win the league. Eastern are perched high in the First Division standings after winning their sixth straight match last night, beating Kitchee 2-0 for a maximum 18 points. The league leaders also have two games in hand. But an HKFA spokesman said last night that Eastern will compete in just the one Asian club event to allow other local clubs a chance to compete in these tournaments. ''If Eastern win the league, they will compete in the Asian Champions Cup while the Asian Cup Winners Cup will be represented by South China, the runners-up in the Camelpaint Challenge Shield. ''It is more fair if other clubs are given the chance,'' said the spokesman. Local clubs have been warned by both the HKFA and the Asian Football Confederation (AFC) that they must compete in regional tournaments they have entered. This follows incidents in which Sing Tao, last season's Camelpaint Challenge Shield winners, and South China, last season's league champions, were fined by the AFC for pulling out of the respective regional competitions after saying they would compete. Both Sing Tao and South China were subsequently fined US$2,000 by the AFC, soccer's governing body in the region. In the case of South China, it was the second time they had incurred the wrath of the AFC. The previous season they pulled out of the eight-team Champions' Cup finals in Qatar after their first-round conquerors, Yomiuri, had themselves withdrawn from thecompetition. The pull-outs left the HKFA in an embarrassing position and the association had to order a special meeting last October to warn clubs that Asian club competitions must be supported.