UPDATE FOR PREMARKET ON 6 OCTOBER

The market is likely to extend Monday's (3 October 2008)

steep fall on weak Asian stocks. Asian stocks fell today, 6

October 2008, led by shares of exporters, after a hectic weekend

in Europe as the financial crisis gathered steam there, knocking

the euro to the lowest in a year. Fears that damage from dysfunctional

financial systems in developed economies would almost certainly

push them closer to recessions, weighed on Asian stocks. Key

benchmark indices in Hong Kong, China, Japan, South Korea, Singapore

and Taiwan were down by between Germany gave blanket bank

deposit guarantee on Sunday, 5 October 2008, to prevent panic

as officials clinched deals to rescue Germany's Hypo Real Estate -- after

an initial bailout failed -- and recapitalize two other European banks.

US stocks declined in volatile trade on Friday, 3 October 2008, on

concerns about whether the $700 billion rescue plan, which was

approved by the US Congress would be quickly implemented and

whether it would be enough to shore up the economy. Dow Jones

Industrial Average slid 157.47 points or 1.5% at 10,325.38. The tech

laden Nasdaq Composite index shed 29.33 points or 1.48% at 1,947.39.

Back home, inflation based on the wholesale price index rose 11.99% in

12 months to 20 September 2008, below the previous week's annual

rise of 12.14%, government data released after trading hours on

Friday, 3 October 2008, showed. Inflation for the week ended 26

July 2008 was revised upwards to 12.53% from 12.01%.