Last minute of the banking crisis, the markets and the purchase of Credit Suisse by UBS

Pacific stocks fell on Monday even as the region’s regulators tried to reassure investors their money was safe following the Credit Suisse bailout and coordinated efforts by global central banks to increase liquidity in financial markets.

In Hong Kong, the Hang Seng Index fell 2.6% at noon

HSBC led the index’s losses, losing 6%.

Standard Chartered’s shares in the city fell 5%.

Both lenders are based in London, but make most of their money in Asia.

Japan’s benchmark Nikkei index fell 1.1%

South Korea’s Kospi fell 0.5%.

Australia’s S&P/ASX 200 declined 1.3%.

Stephen Innes, managing partner at SPI Asset Management, said traders were on high alert because “the more politicians do, the more investors wait for more bad news to come, creating a horrible negative feedback loop.”