The rules will build on letters sent to KLA, Lam Research and Applied Materials earlier this year when they were told they would need government licenses to sell such equipment to buyers making chips using processes below 14 nanometers. The new regulations will likely include additional actions against China, sources told Reuters, adding that they could be changed and published later than expected. — Jihye Li
Financial consultancy downgrades growth forecast for New Zealand
Economists at the New Zealand Institute of Economic Research downgraded the country’s growth outlook, citing continued high inflation and interest rates. They now expect annual gross domestic product for 2022-2023 to grow by 2.5%, down from their previous forecast of 2.9%. GDP for 2023-2024 is now expected to grow by 1%, a sharp downgrade from its previous forecast of 1.9% growth published in June, while the forecast for 2024-2025 was revised down to 1.5% from 2.1%. — Jihye Li
CNBC Pro: Sterling has weakened against the dollar. See how low it could go, according to the pros
Yen intervention likely won’t be effective: National Australia Bank
A unilateral government intervention in the Japanese yen is unlikely to be effective, according to the National Australia Bank – after officials said at the weekend that the government must take action to counter the yen’s excessive fall. “If the [Bank of Japan] really want to stop the JPY falling, then they need to make changes to their ultra-easy policy, the pressure is mounting,” he wrote in a note on Monday. currency analyst at National Australia Bank The yen last traded at 142.55 against the dollar. —Abigail Ng
