Asian markets not impressed

One theme of the news coverage this last weekend of the frenetic negotiations in Washington over the details of a Wall Street bail-out plan was this: they had to get a deal n place before the Asian markets opened, Monday morning in Hong Kong and Tokyo, or Sunday evening in Washington. It was crucial to send a message to the investors in those markets.

Upon waking this morning, we can check -- those investors weren't impressed.

The bottom line of today's HK trading, as measured by the Hang Seng index, is a drop of 669.13 points to 18,012.96. In Tokyo, the Nikkei closed 149.55 down at 11,743.61. In Singapore shares fell 32.45 to 2,379.01.

If there had been no deal, the administration and do-something-quick allies would have cited these numbers as proof of how disastrous waiting is.

But there is a deal, so these numbers will of course be spun as proof that the markets need immediate follow-through.

Follow the sun. What's the story with the Euro markets? In Germany, the DAX is down. In France, the CAC-40 is down. In London, the FTSE is down. Gee, this deal doesn't seemed to have worked any market magic after all, has it?

I'm not saying nuttin'....