Most Asian markets fell Monday as investors worried over the depth of U.S. credit and housing problems after the country's central bank moved to prop up ailing mortgage financiers Fannie Mae and Freddie Mac.
Many of the region's major benchmarks opened higher but shed their gains. Only major indices in China and the Philippines held up against the negative swing. European markets, meanwhile, rose in early trade.
Japan's Nikkei 225 index lost 0.2 percent to close at 13,010.16. Hong Kong's blue-chip Hang Seng Index dropped 0.8 percent to 22,014.46.
The declines came after the U.S. Federal Reserve said Sunday it was granting its New York branch …
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