MarketS DailY - Sep 12

US Markets:

DOW
164.79
+1.46%
11,433.71

NASDAQ
29.52
+1.32%
2,258.22

Asia at 9 AM:

NIKKEI 12,232.99 +130.49 +1.08%
HANG SENG 19,452.77 +64.05 +0.32%

News Today:

*Asian stocks recover on news of Lehman's takeover. Lehman shares fell 42% in wall street ( Read our Special story on Lehman below)

* Inflation came at 12.10% vs 12.34% as oil prices cooled, Prime ministers Eco advisor council said they don't expect Further monetary tightening from RBI.

* IIP nos are in focus today

* Index heavy weight Reliance is very weak and not supporting the markets, as oil cools off concerns are that Oil refining companies will lose margins and is clearly weighing on RIL

* China industrial output growth eases to 12.8%

* Euro Trades Near One-Year Low against Dollar , Rupee weakens further breaching 45.60 Mark.

*Bank of Korea holds key interest rate steady at 5.25%.

*Crude oil slips toward $100 per barrel.

* Gold up from 11-month low, physical buying supports recovery.


2008 - EMERGING MARKETS PERFORMANCE
Best-performing markets:
Kuwait's KSE Price Index 8%
Chile's IPSA index -9%
South Africa's All-Share index -12%

Worst-performing markets
China's Shanghai Composite -58%
Vietnam's VN Index -41%
Greece's ASE index -39%