DOW
NASDAQ
Asia at 9 AM:
NIKKEI 12,144.19 +223.33 +1.87%
HANG SENG 19,242.89 -84.84 -0.44%
SGX NIFTY : 4315 +34
Gold: 872 +7.30 +1.75%
Silver: 1266 +18.40 +1.48%
News Today:
* US investment banks Goldman sachs and Morgan Stanley will become bank holding companies and will receive new US government credit, The Era of investment Banking ends with this.
* US Treasury Secretary Hank asked lawmakers to act quickly on a rescue plan for U.S. markets. The proposed plan was a $700 billion package to move bad assets from companies balance sheets to Governments holdings.
* Rescuing the US financial system could cost the government as much as $1 trillion of Tax payers money.
* After UK and US ban short selling, Australia and Taiwan follow suit.
* Oil prices inch up to $105.
* RIL announces production from KG basin, targets 40% of oil refining in Indian markets in next 18 months. A big boost to unlock valuations.
* US slow down hits Job street in India , New Job offers form satyam and wipro were 35-50% lower and TCS, Infosys cuts recruitment's by 14-12%.
* Rupee becomes the second worst performing currency against Dollar in Asia.
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