South Asia - Markets reel as Lehman collapse sends Russian markets crashing
Updated - 18/9/2008 - IANS.
Indian equities markets continued to reel Wednesday from the effects of the US financial tsunami as the
Lehman Bros. collapse led to the biggest crisis in the Russian financial markets in a decade.
Trading on the rouble-denominated Micex Stock Exchange was suspended indefinitely at 12:10 p.m.
Wednesday for the second consecutive day after its index plunged by 10 percent within an hour into
trading after wiping out a 7.6 percent gain at the opening.
Trading on Micex was suspended Tuesday as well after its index fell 17 percent in one day, the biggest
drop since the sovereign debt default by the Russian government and currency crash ten years ago.
'Every one knows that the ripple effects of the Lehman collapse will continue to be felt for quite some
more time so the mood is so bad that there are simply no genuine buyers in the markets,' said
Jagannadham Thunuguntla, equit