{"id":51519,"date":"2026-07-23T07:29:14","date_gmt":"2026-07-23T07:29:14","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/singapurda-haziran-tufe-tahminlerin-altinda-kaldi-masin-gevseme-adimi-ve-singapur-dolarinda-zayiflama-beklentilerini-guclendirdi\/"},"modified":"2026-07-23T07:29:14","modified_gmt":"2026-07-23T07:29:14","slug":"singapurda-haziran-tufe-tahminlerin-altinda-kaldi-masin-gevseme-adimi-ve-singapur-dolarinda-zayiflama-beklentilerini-guclendirdi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/singapurda-haziran-tufe-tahminlerin-altinda-kaldi-masin-gevseme-adimi-ve-singapur-dolarinda-zayiflama-beklentilerini-guclendirdi\/","title":{"rendered":"Singapur\u2019da Haziran T\u00dcFE tahminlerin alt\u0131nda kald\u0131, MAS\u2019\u0131n gev\u015feme ad\u0131m\u0131 ve Singapur dolar\u0131nda zay\u0131flama beklentilerini g\u00fc\u00e7lendirdi"},"content":{"rendered":"

Singapur\u2019un T\u00fcketici Fiyat Endeksi (T\u00dcFE) Haziran ay\u0131nda y\u0131ll\u0131k bazda %1,9 y\u00fckselerek %2\u2019lik beklentinin alt\u0131nda kald\u0131. Veriler, ay i\u00e7in piyasa konsens\u00fcs\u00fcne k\u0131yasla daha \u0131l\u0131ml\u0131 bir enflasyon g\u00f6r\u00fcn\u00fcm\u00fcne i\u015faret ediyor.<\/p>\n

A\u00e7\u0131klama, Haziran ger\u00e7ekle\u015fmesini %2\u2019lik tahminle kar\u015f\u0131la\u015ft\u0131r\u0131yor ve fiyat bask\u0131lar\u0131n\u0131n \u00f6ng\u00f6r\u00fclene g\u00f6re hafifledi\u011fini g\u00f6steriyor. Kaynakta ilave bir k\u0131r\u0131l\u0131m ya da e\u015flik eden ba\u015fka metrikler payla\u015f\u0131lmad\u0131.<\/p>\n

Para Politikas\u0131 ve Singapur Dolar\u0131 A\u00e7\u0131s\u0131ndan Sonu\u00e7lar<\/h3>\n

Singapur\u2019un Haziran T\u00dcFE\u2019sinin %1,9 ile %2,0\u2019lik piyasa beklentisinin alt\u0131nda kald\u0131\u011f\u0131n\u0131 ve 2023\u2019teki enflasyon zirveleri d\u00f6neminde g\u00f6r\u00fclen %4,8\u2019lik ortalamaya k\u0131yasla belirgin bir gerilemeye i\u015faret etti\u011fini g\u00f6r\u00fcyoruz. Bu beklenmedik yava\u015flama, yurt i\u00e7i fiyat bask\u0131lar\u0131n\u0131n Singapur Para Otoritesi\u2019nin (MAS) \u00f6ng\u00f6rd\u00fc\u011f\u00fcnden \u00e7ok daha h\u0131zl\u0131 so\u011fudu\u011funu d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. T\u00fcrev piyasas\u0131 yat\u0131r\u0131mc\u0131lar\u0131n\u0131n, merkez bankas\u0131n\u0131n yerel para birimi \u00fczerindeki s\u0131k\u0131 duru\u015funu yak\u0131nda gev\u015fetebilece\u011fi ihtimaline kar\u015f\u0131 olas\u0131 bir politika de\u011fi\u015fimine haz\u0131rl\u0131kl\u0131 olmas\u0131 gerekir.<\/p>\n

MAS para politikas\u0131n\u0131 faizler yerine d\u00f6viz kuru \u00fczerinden y\u00f6netti\u011fi i\u00e7in, bir sonraki g\u00f6zden ge\u00e7irmede Singapur Dolar\u0131 Nominal Efektif D\u00f6viz Kuru\u2019nun (S$NEER) de\u011ferlenme e\u011fimini (appreciation slope) azaltmas\u0131n\u0131 bekliyoruz. Bu do\u011frultuda, Singapur dolar\u0131ndaki zay\u0131flamadan yararlanmak isteyen FX yat\u0131r\u0131mc\u0131lar\u0131na USD\/SGD al\u0131m opsiyonlar\u0131n\u0131 (call) veya USD\/SGD uzun (long) forward pozisyonlar\u0131n\u0131 de\u011ferlendirmelerini \u00f6neriyoruz. Tarihsel olarak, man\u015fet enflasyon kritik %2,0 e\u015fi\u011finin alt\u0131na indi\u011finde, yerel para birimi maj\u00f6r k\u00fcresel para birimlerine kar\u015f\u0131 y\u00fckseli\u015f momentumunu kaybetme e\u011filimi g\u00f6steriyor.<\/p>\n

T\u00fcrev \u00dcr\u00fcnlerde ve Faize Duyarl\u0131 Hisselerde F\u0131rsatlar<\/h3>\n

Ayr\u0131ca, yurt i\u00e7inde faiz indirim beklentileri g\u00fc\u00e7lendik\u00e7e, \u00f6n\u00fcm\u00fczdeki haftalarda Singapur Gecelik Faiz Ortalamas\u0131 (SORA) t\u00fcrev getirilerinin a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareket etmesini bekliyoruz. T\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131, d\u00fc\u015fen getiriler riskine kar\u015f\u0131 korunmak i\u00e7in SORA vadeli i\u015flemlerinde al\u0131m yapmay\u0131 veya sabit faiz al\u0131c\u0131 (receive-fixed) faiz swaplar\u0131na girmeyi d\u00fc\u015f\u00fcnebilir. Yerel bankalar daha gev\u015fek bir kredi ortam\u0131n\u0131 fiyatlamaya ba\u015flad\u0131k\u00e7a, k\u0131sa vadeli faiz t\u00fcrevlerinde i\u015flem hacminde belirgin bir art\u0131\u015f g\u00f6r\u00fclmesi muhtemel.<\/p>\n

Hisse senedi taraf\u0131nda ise bu daha d\u00fc\u015f\u00fck enflasyon verisi, \u00f6zellikle Singapur Gayrimenkul Yat\u0131r\u0131m Ortakl\u0131klar\u0131 (S-REIT\u2019ler) ba\u015fta olmak \u00fczere faize duyarl\u0131 varl\u0131klar a\u00e7\u0131s\u0131ndan olduk\u00e7a olumlu. Bu yukar\u0131 y\u00f6nl\u00fc momentumu yakalamak i\u00e7in SGX MSCI Singapore Index vadeli i\u015flemlerinin veya \u00f6ne \u00e7\u0131kan gayrimenkul t\u00fcrevleri \u00fczerindeki al\u0131m opsiyonlar\u0131n\u0131n kullan\u0131lmas\u0131n\u0131 \u00f6neriyoruz. Bor\u00e7lanma maliyetlerindeki d\u00fc\u015f\u00fc\u015f\u00fcn, temett\u00fc odakl\u0131 bu yap\u0131lar\u0131n performans\u0131n\u0131 desteklemesi y\u00fcksek olas\u0131l\u0131k; bu da taktiksel t\u00fcrev pozisyonlanmas\u0131 i\u00e7in cazip bir f\u0131rsat penceresi sunuyor.<\/p>\n\n\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

S\u00fcrpriz veri: Singapur T\u00dcFE Haziran\u2019da %1,9 ile %2 beklentiyi a\u015ft\u0131ramad\u0131. Enflasyondaki so\u011fuma MAS\u2019\u0131n S$NEER s\u0131k\u0131l\u0131\u011f\u0131n\u0131 gev\u015fetebilece\u011fini, USD\/SGD long ve SORA d\u00fc\u015f\u00fc\u015f\u00fcyle S-REIT\u2019lere deste\u011fi g\u00fcndeme ta\u015f\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":50069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-51519","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\/51519","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=51519"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/51519\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/50069"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=51519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=51519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=51519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}