TAIWAN’S MARCH EXPORT ORDERS DISAPPOINT, DOWN 6.6%

TAIPEI - Export orders from Taiwan fell 6.6% y/y in March, following a 14.5% contraction in February and should be seen in the light of market expectations of a 1.9% increase, says ANZ Bank. In the first quarter as a whole, export orders declined 1.7% y/y. “The decline was broad based. Notably, orders from Japan saw the largest decline, down 15.6% y/y, suggesting the weakening JPY is starting to have an impact on export orders,” ANZ says. “At this stage, we believe the Central Bank will not engage in aggressive easing.