G\u00fcney Kore\u2019nin ihracat fiyat art\u0131\u015f\u0131 Nisan\u2019da y\u0131ll\u0131k bazda %40,8\u2019e y\u00fckseldi. Bu oran, \u00f6nceki d\u00f6nemdeki %28,7\u2019nin \u00fczerindeydi.<\/p>\n
Veriler, Nisan\u2019da ihracat fiyatlar\u0131ndaki art\u0131\u015f h\u0131z\u0131n\u0131n g\u00fc\u00e7lendi\u011fini g\u00f6steriyor. De\u011fi\u015fim, \u00f6nceki veriye g\u00f6re 12,1 y\u00fczde puanl\u0131k art\u0131\u015fa i\u015faret ediyor.<\/p>\n
\u0130hracat fiyatlar\u0131ndaki bu s\u0131\u00e7rama, yak\u0131ndan izlenmesi gereken g\u00fc\u00e7l\u00fc bir enflasyon i\u015faretidir. Bu durum, Kore Merkez Bankas\u0131 (BOK) \u00fczerinde bir sonraki toplant\u0131s\u0131nda daha net ad\u0131m atmas\u0131 y\u00f6n\u00fcnde bask\u0131 yarat\u0131r. \u201c\u015eahin\u201d duru\u015f (enflasyonla m\u00fccadele i\u00e7in daha s\u0131k\u0131 para politikas\u0131) olas\u0131l\u0131\u011f\u0131 artar; bu da faiz art\u0131\u015f\u0131 ihtimalini g\u00fc\u00e7lendirir. Faiz art\u0131\u015f\u0131, paran\u0131n de\u011ferini (kur) desteklemek ve enflasyonu s\u0131n\u0131rlamak i\u00e7in kullan\u0131lan temel ara\u00e7t\u0131r.<\/p>\n
Bu tablo, en do\u011frudan i\u015flemin d\u00f6viz piyasas\u0131nda (para birimlerinin al\u0131n\u0131p sat\u0131ld\u0131\u011f\u0131 piyasa) oldu\u011funu d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. Kore vonu (KRW) zay\u0131f seyretti; son d\u00f6nemde dolar ba\u015f\u0131na 1.420 civar\u0131nda i\u015flem g\u00f6rmesi, bu ihracat fiyatlar\u0131n\u0131 yukar\u0131 iten unsurlardan biri oldu. Bu \u00e7er\u00e7evede KRW al\u0131m opsiyonlar\u0131 (belirli bir tarihe kadar belirli fiyattan KRW alma hakk\u0131 veren s\u00f6zle\u015fmeler) de\u011ferlendirilebilir veya USD\/KRW vadeli kontratlar\u0131nda (gelecekte belirlenen fiyattan al\u0131m-sat\u0131m taahh\u00fcd\u00fc veren s\u00f6zle\u015fmeler) k\u0131sa pozisyon (fiyat d\u00fc\u015f\u00fc\u015f\u00fcnden kazan\u00e7 hedefleyen i\u015flem) al\u0131narak, Merkez Bankas\u0131\u2019n\u0131n faiz art\u0131rmak zorunda kalmas\u0131yla vonun g\u00fc\u00e7lenmesi senaryosuna pozisyonlan\u0131labilir.<\/p>\n
Hisse yat\u0131r\u0131mc\u0131lar\u0131 a\u00e7\u0131s\u0131ndan ise geni\u015f piyasada daha temkinli bir duru\u015f \u00f6ne \u00e7\u0131k\u0131yor. Daha y\u00fcksek faizler, \u015firketlerin finansman maliyetini art\u0131rd\u0131\u011f\u0131 ve de\u011ferlemeleri bask\u0131lad\u0131\u011f\u0131 i\u00e7in genellikle hisse senetleri \u00fczerinde olumsuz etki yarat\u0131r. Bu nedenle KOSPI 200 endeksinde sat\u0131m opsiyonu (put; belirli fiyattan satma hakk\u0131) almak, s\u0131k\u0131 para politikas\u0131 kaynakl\u0131 olas\u0131 bir d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 korunma (hedge; zarar\u0131 s\u0131n\u0131rlama ama\u00e7l\u0131 i\u015flem) sa\u011flayabilir. Endeksin 2.650 seviyesine yak\u0131n seyretti\u011fi belirtiliyor.<\/p>\n
Ancak bu fiyat art\u0131\u015f\u0131n\u0131n \u00f6nemli \u00f6l\u00e7\u00fcde k\u00fcresel yar\u0131 iletken (\u00e7ip; elektronik cihazlar\u0131n temel i\u015flemci bile\u015fenleri) talebinden kaynakland\u0131\u011f\u0131n\u0131 da not etmek gerekir. Philadelphia Semiconductor Endeksi (SOX; ABD\u2019deki b\u00fcy\u00fck \u00e7ip \u015firketlerini izleyen sekt\u00f6r endeksi) bu y\u0131l %20\u2019nin \u00fczerinde y\u00fckselmi\u015f durumda. Bu, sekt\u00f6r\u00fcn g\u00fc\u00e7l\u00fc g\u00f6r\u00fcn\u00fcm\u00fc ile genel ekonomik bask\u0131lar\u0131n (makro r\u00fczg\u00e2rlar; enflasyon, faiz, b\u00fcy\u00fcme gibi b\u00fcy\u00fck \u00f6l\u00e7ekli etkenler) \u00e7eli\u015fti\u011fini g\u00f6steriyor. Bu da oynakl\u0131\u011f\u0131n (volatilite; fiyatlar\u0131n h\u0131zl\u0131 ve sert dalgalanmas\u0131) y\u00fcksek kalabilece\u011fine i\u015faret ediyor. Bu ortamda Samsung Electronics gibi b\u00fcy\u00fck teknoloji ihracat\u00e7\u0131lar\u0131 \u00fczerinde \u201cstraddle\u201d (ayn\u0131 vadede ayn\u0131 kullan\u0131m fiyat\u0131yla hem al\u0131m hem sat\u0131m opsiyonu alma; fiyat\u0131n hangi y\u00f6ne gidece\u011finden ba\u011f\u0131ms\u0131z b\u00fcy\u00fck hareketten yararlanmay\u0131 hedefler) stratejisi, iki y\u00f6ne de sert hareket ihtimalini de\u011ferlendirmeye y\u00f6nelik bir se\u00e7enek olarak \u00f6ne \u00e7\u0131kabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alarm zilleri \u00e7al\u0131yor: G\u00fcney Kore ihracat fiyat art\u0131\u015f\u0131 Nisan\u2019da %40,8\u2019e s\u0131\u00e7rad\u0131. Enflasyon bask\u0131s\u0131 BOK\u2019u \u015fahinle\u015ftirebilir; KRW g\u00fc\u00e7lenmesi, KOSPI\u2019de hedge, \u00e7ip hisselerinde straddle \u00f6ne \u00e7\u0131k\u0131yor.<\/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-46722","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\/46722","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=46722"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46722\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}