G\u00fcney Kore\u2019nin S&P Global \u0130malat PMI\u2019\u0131 May\u0131s ay\u0131nda \u00f6nceki 53,6 seviyesinden 54,8\u2019e y\u00fckselerek, geni\u015fleme ile daralmay\u0131 ay\u0131ran 50,0 e\u015fi\u011finin \u00fczerindeki seyrini daha da g\u00fc\u00e7lendirdi. Bu veri, ikinci \u00e7eyre\u011fin ba\u015f\u0131nda fabrika ko\u015fullar\u0131nda daha h\u0131zl\u0131 bir iyile\u015fmeye i\u015faret ediyor.<\/p>\n
Son hareket, endeksin b\u00fcy\u00fcme b\u00f6lgesinde kalmas\u0131yla birlikte ivmenin ayl\u0131k bazda g\u00fc\u00e7lendi\u011fini g\u00f6steriyor. Piyasalar, \u015firketlerin talep ve arz ko\u015fullar\u0131ndaki de\u011fi\u015fimlere verdi\u011fi tepkiye ba\u011fl\u0131 olarak PMI\u2019daki y\u00fckseli\u015fin \u00f6n\u00fcm\u00fczdeki a\u00e7\u0131klamalarda korunup korunmayaca\u011f\u0131n\u0131 izleyecek.<\/p>\n
G\u00fcney Kore\u2019nin May\u0131s ay\u0131 imalat PMI\u2019\u0131n\u0131n 54,8\u2019e y\u00fckselmesini \u00f6n\u00fcm\u00fczdeki haftalar i\u00e7in g\u00fc\u00e7l\u00fc bir y\u00fckseli\u015f (bullish) sinyali olarak g\u00f6r\u00fcyoruz. Bu h\u0131zlanan geni\u015fleme \u2014 son birka\u00e7 y\u0131l\u0131n en h\u0131zl\u0131s\u0131 \u2014 \u00fclkenin sanayi devleri i\u00e7in \u00f6n\u00fcm\u00fczdeki d\u00f6nemde g\u00fc\u00e7l\u00fc \u015firket k\u00e2rl\u0131l\u0131klar\u0131na i\u015faret ediyor. Bu veri, Kore hisselerinde uzun (long) pozisyon a\u00e7ma y\u00f6n\u00fcndeki g\u00f6r\u00fc\u015f\u00fcm\u00fcz\u00fc destekliyor.<\/p>\n
Bu ivme do\u011frultusunda, KOSPI 200 endeksi \u00fczerinde muhtemelen Temmuz ve A\u011fustos vadeli al\u0131m (call) opsiyonlar\u0131n\u0131 de\u011ferlendiriyoruz. Bu PMI verisi, G\u00fcney Kore ihracat\u0131n\u0131n ge\u00e7en ay %11\u2019in \u00fczerinde artt\u0131\u011f\u0131n\u0131 ve art\u0131\u015f\u0131n a\u011f\u0131rl\u0131kl\u0131 olarak %50\u2019nin \u00fczerinde s\u0131\u00e7rayan yar\u0131 iletken sat\u0131\u015flar\u0131ndan kaynakland\u0131\u011f\u0131n\u0131 g\u00f6steren son ticaret verileriyle de destekleniyor. Tarihsel olarak, bu kadar g\u00fc\u00e7l\u00fc ihracat d\u00f6ng\u00fcleri KOSPI\u2019de anlaml\u0131 ralli d\u00f6nemlerinin \u00f6nc\u00fcs\u00fc olmu\u015ftur.<\/p>\n
G\u00fc\u00e7l\u00fc makro veriler, G\u00fcney Kore Wonu lehine tabloyu da g\u00fc\u00e7lendiriyor. H\u00e2lihaz\u0131rda 1.360 civar\u0131nda i\u015flem g\u00f6ren USD\/KRW kurunun, \u00fclkeye sermaye giri\u015fleriyle birlikte a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareket etmesini bekliyoruz. Bu beklenti do\u011frultusunda, Won\u2019un de\u011fer kazanmas\u0131ndan fayda sa\u011flayacak t\u00fcrev \u00fcr\u00fcnleri inceliyoruz.<\/p>\n
Bu g\u00f6r\u00fcn\u00fcm, Kore Merkez Bankas\u0131\u2019n\u0131n (BoK) daha \u015fahin bir duru\u015f benimseyebilece\u011fi ihtimaliyle de peki\u015fiyor. Ekonomide belirgin \u0131s\u0131nma sinyalleri ve enflasyonun %2,8 civar\u0131nda istikrar\u0131n\u0131 korumas\u0131, bankan\u0131n faiz indirimlerini g\u00fcndeme alma gerek\u00e7esini zay\u0131flatabilir. Faiz fark\u0131n\u0131n sabit kalmas\u0131 veya artmas\u0131, para birimine ek destek sa\u011flayacakt\u0131r.<\/p>\n
\u0130malat g\u00fcc\u00fcn\u00fcn ana ta\u015f\u0131y\u0131c\u0131lar\u0131 olan b\u00fcy\u00fck yar\u0131 iletken ve otomotiv \u015firketlerinde \u00f6zellikle al\u0131m (call) opsiyonlar\u0131na odaklan\u0131yoruz. Bu sekt\u00f6rler, g\u00fc\u00e7l\u00fc k\u00fcresel talepten destek al\u0131yor ve geni\u015f piyasan\u0131n \u00fczerinde performans g\u00f6stermeleri muhtemel g\u00f6r\u00fcn\u00fcyor. Bu hedefli yakla\u015f\u0131m, mevcut ekonomik geni\u015flemenin \u00e7ekirde\u011fine do\u011frudan maruz kalmam\u0131z\u0131 sa\u011fl\u0131yor.<\/p>\n","protected":false},"excerpt":{"rendered":"
PMI s\u00fcrprizi: G\u00fcney Kore imalat\u0131 May\u0131s\u2019ta 53,6\u2019dan 54,8\u2019e \u00e7\u0131karak geni\u015flemeyi h\u0131zland\u0131rd\u0131. \u0130hracat ve yar\u0131 iletken ivmesi KOSPI\u2019de ralli beklentisini, call opsiyonlar\u0131n\u0131, won lehine ve \u015fahin BoK olas\u0131l\u0131\u011f\u0131n\u0131 g\u00fc\u00e7lendiriyor.<\/p>\n","protected":false},"author":87,"featured_media":47678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-47800","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/47800","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=47800"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/47678"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}