iPhone launch to spur semiconductor demand

This is a positive for Singapore NODX.

Whilst RHB reckons that non-oil domestic exports (NODX) will remain slow ahead, exports are expected to grow 3.9% this year versus a 3.2% drop last year.

According to RHB, this will be underpinned by the overall higher semiconductor demand, which is set to pick up again in July ahead of the new Apple iPhone launch.

It will also be supported by stronger economic growth in the US, which represents a key source of final demand and improving commodity prices, which would support ASEAN economic growth.

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