Japon hisselerine yabanc\u0131 yat\u0131r\u0131m, 15 May\u0131s\u2019ta sona eren haftada geriledi. Net yabanc\u0131 al\u0131m 1.437,5 milyar yenden 949,6 milyar yene d\u00fc\u015ft\u00fc.<\/p>\n
Son veri, \u00f6nceki haftaya g\u00f6re 487,9 milyar yenlik azal\u0131\u015fa i\u015faret ediyor. Bu da d\u00f6nem boyunca yabanc\u0131lar\u0131n net al\u0131m\u0131n\u0131n zay\u0131flad\u0131\u011f\u0131n\u0131 g\u00f6steriyor.<\/p>\n
Yabanc\u0131 yat\u0131r\u0131mc\u0131larda belirgin bir geri \u00e7ekilme g\u00f6r\u00fcl\u00fcyor; Japon hisselerine haftal\u0131k giri\u015fler yakla\u015f\u0131k 500 milyar yen azald\u0131. Bu, g\u00fc\u00e7l\u00fc al\u0131m d\u00f6neminin ard\u0131ndan piyasa alg\u0131s\u0131nda de\u011fi\u015fime i\u015faret eden bir uyar\u0131 sinyali. Bu d\u00fc\u015f\u00fc\u015f\u00fcn sadece k\u00e2r realizasyonu (yat\u0131r\u0131mc\u0131lar\u0131n kazan\u00e7lar\u0131n\u0131 nakde \u00e7evirip sat\u0131\u015f yapmas\u0131) m\u0131, yoksa daha kal\u0131c\u0131 bir \u00e7\u0131k\u0131\u015f\u0131n ba\u015flang\u0131c\u0131 m\u0131 oldu\u011fu izlenmeli.<\/p>\n
Zamanlama, Nikkei 225\u2019in 40.000 seviyesine yak\u0131n seyriyle \u00f6rt\u00fc\u015f\u00fcyor. 40.000, \u201cpsikolojik e\u015fik\u201d (yat\u0131r\u0131mc\u0131lar\u0131n kararlar\u0131n\u0131 etkileyen yuvarlak ve sembolik seviye) olarak g\u00f6r\u00fcl\u00fcr ve bu b\u00f6lgede k\u00e2r sat\u0131\u015flar\u0131 artabilir. Ayr\u0131ca Japonya Merkez Bankas\u0131\u2019n\u0131n (BOJ) gelecekteki para politikas\u0131 hakk\u0131nda kar\u0131\u015f\u0131k mesajlar vermesi belirsizli\u011fi art\u0131r\u0131yor; bu belirsizlik yabanc\u0131 fonlar\u0131 tedirgin edebilir. Benzer bir \u00e7\u0131k\u0131\u015f deseni 2024 sonlar\u0131nda g\u00f6r\u00fclm\u00fc\u015f ve ard\u0131ndan piyasada %5\u2019lik d\u00fczeltme (k\u0131sa s\u00fcrede ya\u015fanan s\u0131n\u0131rl\u0131 d\u00fc\u015f\u00fc\u015f) gelmi\u015fti; bu ge\u00e7mi\u015f \u00f6rnek g\u00f6z ard\u0131 edilmemeli.<\/p>\n
Sermaye ak\u0131\u015f\u0131ndaki bu de\u011fi\u015fim oynakl\u0131\u011f\u0131 (fiyatlar\u0131n h\u0131zl\u0131 ve sert dalgalanmas\u0131) etkiler; bu nedenle opsiyon stratejileri \u00f6ne \u00e7\u0131k\u0131yor. Nikkei Oynakl\u0131k Endeksi (Nikkei Volatility Index: piyasadaki beklenen dalgalanmay\u0131 g\u00f6steren \u00f6l\u00e7\u00fcm) 17,2 ile g\u00f6rece d\u00fc\u015f\u00fck. Bu seviye riskin tam fiyatlanmad\u0131\u011f\u0131na i\u015faret edebilir. Bu durumda Nikkei 225 \u00fczerine sat\u0131m (put) opsiyonu almak, olas\u0131 d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 \u201ckorunma\u201d (hedge: riski azaltma) i\u00e7in g\u00f6rece d\u00fc\u015f\u00fck maliyetli bir y\u00f6ntem olabilir. \u00d6n\u00fcm\u00fczdeki haftan\u0131n verileri sat\u0131\u015f e\u011filimini do\u011frularsa bu endeksin y\u00fckselmesi beklenebilir.<\/p>\n
Belirsizlik nedeniyle, a\u00e7\u0131k \u201cuzun pozisyon\u201d (fiyat y\u00fckseli\u015finden kazan\u00e7 hedefleyen mevcut al\u0131m y\u00f6nl\u00fc pozisyon) ta\u015f\u0131yan yat\u0131r\u0131mc\u0131lar koruyucu y\u00f6ntemleri de\u011ferlendirebilir. Topix veya Nikkei 225 gibi ana endekslerde \u201czarar durdurma i\u015flevi g\u00f6rebilecek\u201d \u015fekilde, kullan\u0131m fiyat\u0131 mevcut fiyat\u0131n alt\u0131nda olan sat\u0131m opsiyonlar\u0131 (out-of-the-money put: d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 sigorta gibi \u00e7al\u0131\u015fan, ancak hemen kazanca ge\u00e7meyen opsiyon) sert d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 g\u00fcvence sa\u011flayabilir. D\u00fc\u015f\u00fc\u015ften faydalanmak isteyenler i\u00e7in ay\u0131 sat\u0131m spread\u2019i (bear put spread: bir sat\u0131m opsiyonu al\u0131p daha d\u00fc\u015f\u00fck kullan\u0131m fiyatl\u0131 ba\u015fka bir sat\u0131m opsiyonu satarak maliyeti d\u00fc\u015f\u00fcren, riski ve kazanc\u0131 s\u0131n\u0131rlayan strateji) \u00f6n\u00fcm\u00fczdeki ay i\u00e7in a\u015fa\u011f\u0131 y\u00f6nl\u00fc beklentiyi s\u0131n\u0131rl\u0131 riskle ifade etmenin bir yolu olabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alarm zilleri: Japon hisselerine yabanc\u0131 giri\u015f h\u0131z kesti. 15 May\u0131s haftas\u0131nda net al\u0131m 1.437,5 milyar yenden 949,6 milyara indi; Nikkei 40.000 e\u015fi\u011fi ve BOJ belirsizli\u011fiyle put opsiyonlar\u0131 g\u00fcndemde.<\/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-47142","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\/47142","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=47142"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47142\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}