Due to the soaring price of gasoline and the slumping global economy, sales of new imported vehicles in Japan fell 35.5% in August year-on-year. Sales have dropped for four straight months now, and this drop was the largest since 1998. The sales figure totaled only 11,676 units.

Realized local investment decreased 70% in the first half as compared to the first six months of last year. To avoid paying Indonesia's taxes, local investors have begun to invest in global legal entities. In the first half, realized foreign investment increased 153% as compared to the first half of last year.

Although financial experts have dispelled the idea of a September crisis, rumors of such a crisis have impacted South Korea's financial markets. This week, the Korean stock market fell more than 4%, and the Korean currency was weaker than its been in almost four years.

Auto exports from India's auto exports are expected to reach 25 billion dollars in the next decade. According to Union Minister Commerce and Industry Kamal Nath, the government will help to allow the auto industry to expand to other parts of the world. More foreign countries should be making India their choice for design and manufacture of automotive components

The government stands to lose billions of pesos from a tax and savings law. A tax-exemption law could cause the government to lose as much as P15 billion next year. In addition, the government could lose P11 billion a year from the Personal Equity Retirement Account. This law allows Filipinos to save money that will provide liquidity for domestic financial markets.

After the government declared a state of emergency, investors in the Stock Exchange of Thailand fled quickly as Thai stocks fell 2.33%. Experts say that the hit that Thai stocks took could have been much worse. The Stock Exchange of Thailand closed at 659.51, down 15.71.

The credit rating of 10 mainland commercial banks have increased from last year. Seven banks were rated AAA this year as compared to only five last year. China Merchants Bank went from AA+ to AAA and China CITIC Bank Corp Ltd upgraded from AA to AAA. The increase in banks' ratings were due partly by higher risk resistance and profitability.

Bank of Japan Policy Board member Miyako Suda is pushing for tighter monetary policies by central banks in order to stabilize prices and lower economic growth to a more sustainable rate. According to Suda, lower commodities prices will lead to a stabilized inflation rate. She alluded to higher interest rates to contain prices on oil and raw materials.

In the first half of the year, trade between Vietnam and Japan increased 45.5% as compared to the same period last year. Trade was worth over $8.1 billion. At this rate, trade between the two countries could exceed the 2010 target of $15 billion. Exports of oil to Japan surged in the first half. Furthermore, Vietnam shipped more coal, coffee, and small motors to Japan than it did last year in the first half.

After being a net creditor since 2000, South Korea is estimated to have become a net debtor this month. At the end of June, the country's net credit stood at less than $5.8 billion. By the end of July, it dropped to nearly zero. South Korea now faces the danger of many foreign investors cashing out.