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The US Department of Commerceplans topublish new regulationsrelated to restricting exports of chipmaking equipment to Chinese factories that produce advanced semiconductors, Reuters reported, citing people familiar with the matter.

The rules will be based onletters sent to KLA, Lam Research and Applied Materials earlier this year, when theywere informed that government-issued licenses would be needed to sell such equipment to buyers that make chipswith sub-14 nanometer processes.

The newregulations would likely include additional actions against China, sources told Reuters, adding they could be changed and published later than expected.

Jihye Lee

Economists at the New Zealand Institute for Economic Research downgraded the growth outlook for the country, citing continued high inflation and interest rates.

They now expect the annual gross domestic product for 2022-2023 to grow 2.5%, lower than its previous forecast of 2.9%.

GDP for 2023-2024 is now expected to grow 1%, a steep downgrade from its earlier prediction of a 1.9% increase published in June, while the 2024-2025 forecast was revised to 1.5% from 2.1%.

Jihye Lee

A unilateral intervention on the Japanese yen from the government is unlikely to be effective, according to National Australia Bank after officials over the weekend said the government needs to take steps to address the excessive declines in the yen.