Australia's central bank is also offering some 1.7 billion US dollars to its markets by means of buying off companies.

Australian Prime Minister Kevin Rudd defends the country's economic position as "better placed than many in the world".

Kevin Rudd, the Australian PM, said, "We are in a period of significant crisis in global financial markets. This has continued for some time, it will continue for some time again. Therefore in Australia, the overwhelming challenge is to maintain strong, responsible economic management."

Japan's central bank followed the trend, injecting some 24 billion US dollars into its financial institutions. Japanese officials say the global financial crisis hasn't affected the country's market just yet.

Nobutaka Machimura, the Japanese chief cabinet secretary, said, "Japanese financial institutions hold plenty of self-owned capital. So, we do not see this making any serious impact to the Japanese economy immediately."

In neighboring South Korea, the government says it's ready to tackle the crisis by using foreign exchange reserves.

(CCTV September 19, 2008)