Serial data reception by 8051

Hi all,

i am developing an application wherein Atmel Mc receives serial data from an external source. The code developed is as follows:

MOV TMOD,#20H
MOV TH1,#-3
MOV SCON,#50H
SETB TR1
up: JNB RI,up
MOV A,SBUF
MOV P1,A
CLR RI
SJMP up
end

I am currently using a limited version of Keil. On simulation I find that the data is not copied into Port P1. Kindly let me know if there is some error in the above code.

Thanks in advance!!!!!!