Taiwan's overseas orders likely declined due to weak China demand

Taiwan is scheduled to release May export orders data on 23 June. Export orders are expected to have declined 5.8% y/y, versus the 4.0% decline in April. Tech orders likely remained in positive territory, supported by steady global demand for the latest mobile technology. 

However, overseas orders for non-tech goods (such as rubber, chemicals, and petroleum) were likely affected by weaker oil and commodity prices. 

"We think the data suggests that China's slowdown will continue to be a major drag on demand near-term, although the US' recovery should be supportive in H2-2015",says Standard Chartered.