{"id":29908,"date":"2026-03-09T19:02:13","date_gmt":"2026-03-09T19:02:13","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/2025te-kuresel-capta-zirveye-cikan-kospi-2026daki-yukselisini-surdururken-yeni-rekorlara-ulasip-ulasamayacagina-dair-supheler-artiyor\/"},"modified":"2026-03-09T19:02:13","modified_gmt":"2026-03-09T19:02:13","slug":"2025te-kuresel-capta-zirveye-cikan-kospi-2026daki-yukselisini-surdururken-yeni-rekorlara-ulasip-ulasamayacagina-dair-supheler-artiyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/2025te-kuresel-capta-zirveye-cikan-kospi-2026daki-yukselisini-surdururken-yeni-rekorlara-ulasip-ulasamayacagina-dair-supheler-artiyor\/","title":{"rendered":"2025\u2019te k\u00fcresel \u00e7apta zirveye \u00e7\u0131kan KOSPI, 2026\u2019daki y\u00fckseli\u015fini s\u00fcrd\u00fcr\u00fcrken yeni rekorlara ula\u015f\u0131p ula\u015famayaca\u011f\u0131na dair \u015f\u00fcpheler art\u0131yor"},"content":{"rendered":"KOSPI, 2025\u2019te %75 getiri sa\u011flad\u0131 ve 6 Mart 2026 Cuma kapan\u0131\u015f\u0131 itibar\u0131yla y\u0131lba\u015f\u0131ndan bu yana (YTD) %25 daha y\u00fckseldi. Ayn\u0131 d\u00f6nemde Nasdaq %4,64 gerilerken, DAX 40 ve CAC 40 jeopolitik gerilimlerin Bat\u0131 piyasalar\u0131n\u0131 bask\u0131lamas\u0131yla s\u0131ras\u0131yla %3,70 ve %1,50 d\u00fc\u015ft\u00fc.\n\nY\u00fckseli\u015fin bir nedeni, G\u00fcney Kore\u2019de gen\u00e7 yat\u0131r\u0131mc\u0131lar\u0131n konut fiyatlar\u0131 artt\u0131k\u00e7a paray\u0131 konuttan hisse senedine kayd\u0131rmas\u0131 oldu. 2024\u2019te Seul\u2019de bir hanenin t\u00fcm harcanabilir gelirini biriktirerek ev almas\u0131 i\u00e7in yakla\u015f\u0131k 14 y\u0131l gerekirken, 2022 verileriyle New York\u2019ta bu s\u00fcre yakla\u015f\u0131k 9,7 y\u0131ld\u0131.\n\n<h3>Yurti\u00e7i Destekler ve Politika Etkisi<\/h3>\nPolitika de\u011fi\u015fiklikleri de hisse piyasas\u0131n\u0131 destekledi; KOSPI Ocak 2026\u2019da 5.000\u2019i, \u015eubat 2026\u2019da 6.000\u2019i a\u015ft\u0131. \u201cValue-Up\u201d (\u015firket de\u011ferini art\u0131rma) program\u0131na ba\u011fl\u0131 d\u00fczenlemeler aras\u0131nda Temmuz 2025\u2019te Ticaret Kanunu de\u011fi\u015fiklikleri, \u015firketlerin geri ald\u0131\u011f\u0131 kendi hisselerini (hazine hisseleri) iptal etmek i\u00e7in getirilen 1 y\u0131ll\u0131k kural ve Aral\u0131k 2025\u2019te temett\u00fc vergisinin %45\u2019ten %14\u2013%30\u2019a indirilmesi yer ald\u0131.\n\n2025 sonu itibar\u0131yla 174 \u015firket \u201cKurumsal De\u011fer Art\u0131\u015f Plan\u0131\u201d benimsedi ve yabanc\u0131 yat\u0131r\u0131mc\u0131 kat\u0131l\u0131m\u0131 neredeyse iki kat\u0131na \u00e7\u0131kt\u0131. Korea Value-Up Endeksi, 2024 sonundan bu yana %130\u2019un \u00fczerinde y\u00fckseldi. Piyasa de\u011ferinin yakla\u015f\u0131k \u00fc\u00e7te birini olu\u015fturan Samsung Electronics ve SK Hynix, yapay zek\u00e2 i\u00e7in bellek (AI memory) talebiyle y\u00fckseldi: SK Hynix 2025\u2019te 47,2 trilyon won faaliyet k\u00e2r\u0131 a\u00e7\u0131klarken Samsung 43,6 trilyon won bildirdi. 2025 4. \u00e7eyrekte NAND (bir bellek\/depoma \u00e7ipi t\u00fcr\u00fc) pazar paylar\u0131 SK Hynix\u2019te %28, Samsung\u2019da %22,1 oldu. 2025\u2019te SK Hynix %274, Samsung %125 y\u00fckseldi; 6 Mart 2026\u2019ya kadar da y\u0131lba\u015f\u0131ndan bu yana s\u0131ras\u0131yla %41 ve yakla\u015f\u0131k %56 daha artt\u0131.\n\nKOSPI\u2019nin bu y\u0131l \u015fimdiden %25 y\u00fckselmesi, piyasada rehavet i\u015faretlerine i\u015faret ediyor. Bu durum genelde opsiyon fiyatlar\u0131n\u0131 a\u015fa\u011f\u0131 \u00e7eker. VKOSPI (G\u00fcney Kore volatilite endeksi; piyasan\u0131n beklenen dalgalanmas\u0131n\u0131 \u00f6l\u00e7er) ge\u00e7mi\u015f y\u00fckseli\u015f d\u00f6nemlerinde g\u00f6r\u00fclen 13\u201315 band\u0131na benzer \u015fekilde, tarihsel dip seviyelerine yak\u0131n seyrediyor olabilir. Bu tablo, t\u00fcrev \u00fcr\u00fcnlerle (dayanak varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler) g\u00f6rece d\u00fc\u015f\u00fck maliyetle pozisyon kurmay\u0131 m\u00fcmk\u00fcn k\u0131lar.\n\nDevam eden yapay zek\u00e2 ve yar\u0131 iletken (\u00e7ip) ivmesini i\u015flemeye en do\u011frudan yol, sekt\u00f6r\u00fcn liderleri Samsung Electronics ve SK Hynix \u00fczerinde al\u0131m opsiyonu (call; belirli fiyattan alma hakk\u0131) kullanmakt\u0131r. Endeksteki y\u00fckseli\u015fin ana motoru olmaya devam ediyorlar. Call spread (iki farkl\u0131 kullan\u0131m fiyat\u0131yla al\u0131m opsiyonu kombinasyonu; maliyeti d\u00fc\u015f\u00fcr\u00fcr, getiriyi s\u0131n\u0131rlar) kullanmak, ilk maliyeti azalt\u0131rken momentum s\u00fcrerse yukar\u0131 y\u00f6n\u00fcn \u00f6nemli k\u0131sm\u0131n\u0131 yakalamak i\u00e7in daha temkinli bir y\u00f6ntem olabilir.\n\nBuna kar\u015f\u0131n, 2025\u2019te belirginle\u015fen bireysel yat\u0131r\u0131mc\u0131 art\u0131\u015f\u0131, duyarl\u0131l\u0131\u011f\u0131n (sentiment) h\u0131zl\u0131 de\u011fi\u015fmesine yol a\u00e7abilir. 2020\u20132021\u2019de \u201cDonghak Ant\u201d hareketinde de benzer \u015fekilde g\u00fc\u00e7l\u00fc bir bireysel ralliyi sert bir d\u00fczeltme takip etmi\u015fti. \u00d6n\u00fcm\u00fczdeki haftalarda ani geri d\u00f6n\u00fc\u015f riskine kar\u015f\u0131 KOSPI 200 endeksinde kullan\u0131m fiyat\u0131 piyasa seviyesinin alt\u0131nda olan (out-of-the-money) sat\u0131m opsiyonlar\u0131 (put; belirli fiyattan satma hakk\u0131) almak, etkili bir koruma (hedge) sa\u011flayabilir.\n\n<h3>Pozisyonlanma ve A\u015fa\u011f\u0131 Y\u00f6n Risk Y\u00f6netimi<\/h3>\nAyn\u0131 zamanda \u201cValue-Up\u201d program\u0131, istikrarl\u0131 kurumsal para giri\u015fini \u00e7ekerek piyasaya yap\u0131sal destek veriyor. Yabanc\u0131 yat\u0131r\u0131mc\u0131lar 2025\u2019e kadar s\u00fcren y\u00fckseli\u015f boyunca Kore hisselerinde 12 milyar dolar\u0131n \u00fczerinde net al\u0131c\u0131 oldu; bu giri\u015fler sert d\u00fc\u015f\u00fc\u015f riskini azalt\u0131r. Bu da olas\u0131 geri \u00e7ekilmelerin s\u0131n\u0131rl\u0131 kalabilece\u011fini, geri \u00e7ekilme bekleyenlerden prim (opsiyon sat\u0131c\u0131s\u0131n\u0131n ald\u0131\u011f\u0131 gelir) toplamak i\u00e7in put spread sat\u0131\u015f\u0131 (iki farkl\u0131 kullan\u0131m fiyat\u0131yla sat\u0131m opsiyonu kombinasyonu; risk ve getiriyi s\u0131n\u0131rlar) gibi stratejileri \u00f6ne \u00e7\u0131karabilece\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor.\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>KOSPI 2025\u2019te %75, 2026 YTD %25 u\u00e7tu; Nasdaq ve Avrupa gerilerken Kore\u2019yi \u201cValue\u2011Up\u201d reformlar\u0131, gen\u00e7 para ak\u0131\u015f\u0131 ve AI \u00e7ip devleri s\u00fcr\u00fckledi. D\u00fc\u015f\u00fck VKOSPI opsiyon f\u0131rsat\u0131.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-29908","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/29908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=29908"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/29908\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=29908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=29908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=29908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}