Most Asian Stock Markets Up Sharply After Fannie/Freddie Takeover.

Some VC readers were wondering what the US Stock Market is likely to do on Monday, the day after the federal takeover of Fannie Mae and Freddie Mac.

While the opening on the New York market is still 12 hours away and anything can happen, right now Dow Index futures are up 244-249 points, SP 500 futures are up 33 points, and NASDAQ futures are up 38.5 points.

This is the biggest evening-before jump I remember seeing in the last year (though I don't check every day). Right now, Australia, Japan, and Singapore are up 3.6-3.8%; So. Korea and Hong Kong are up 4.4-4.6%; and Taiwan is up 5.4%. Shanghai, however, is the laggard, up only 0.1%.