Taiwan export figure stuns

Below market expectations, export fell by 1.9% yoy in October.

OCBC Treasury Research noted:

Export unexpectedly fell by 1.9% yoy in October, below market expected 2.0% yoy increase, due to weak demand from G3 economy. Exports to EU and US contracted by 11% and 9.5% respectively in October despite export to China edged up slightly by 0.3%. The weak recovery in the advanced economies is likely to pose challenge to Asian export outlook.

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