{"id":53424,"date":"2026-08-31T01:26:50","date_gmt":"2026-08-31T01:26:50","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/guney-korede-temmuz-ayi-hizmet-uretimindeki-dusus-wonun-baski-altinda-kaldigi-donemde-kore-merkez-bankasi-uzerindeki-baskiyi-artiriyor\/"},"modified":"2026-08-31T01:26:50","modified_gmt":"2026-08-31T01:26:50","slug":"guney-korede-temmuz-ayi-hizmet-uretimindeki-dusus-wonun-baski-altinda-kaldigi-donemde-kore-merkez-bankasi-uzerindeki-baskiyi-artiriyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/guney-korede-temmuz-ayi-hizmet-uretimindeki-dusus-wonun-baski-altinda-kaldigi-donemde-kore-merkez-bankasi-uzerindeki-baskiyi-artiriyor\/","title":{"rendered":"G\u00fcney Kore\u2019de Temmuz Ay\u0131 Hizmet \u00dcretimindeki D\u00fc\u015f\u00fc\u015f, Won\u2019un Bask\u0131 Alt\u0131nda Kald\u0131\u011f\u0131 D\u00f6nemde Kore Merkez Bankas\u0131 \u00dczerindeki Bask\u0131y\u0131 Art\u0131r\u0131yor"},"content":{"rendered":"

G\u00fcney Kore\u2019nin hizmet sekt\u00f6r\u00fc \u00fcretimi Temmuz ay\u0131nda %1,3 gerileyerek bir \u00f6nceki aydaki %0,7\u2019lik art\u0131\u015f\u0131 tersine \u00e7evirdi. Bu de\u011fi\u015fim, Haziran\u2019daki geni\u015flemenin ard\u0131ndan hizmetlerde ayl\u0131k bazda daha zay\u0131f bir performansa i\u015faret ediyor.<\/p>\n

Veriler, tek bir raporlama d\u00f6neminde b\u00fcy\u00fcmeden daralmaya ge\u00e7i\u015fe i\u015faret ediyor. A\u00e7\u0131klamada alt sekt\u00f6rlere veya itici unsurlara ili\u015fkin ilave bir k\u0131r\u0131l\u0131m payla\u015f\u0131lmad\u0131.<\/p>\n

Para Politikas\u0131 ve Kore Wonu A\u00e7\u0131s\u0131ndan Etkiler<\/h3>\n

G\u00fcney Kore\u2019nin hizmet sekt\u00f6r\u00fc \u00fcretiminin Temmuz\u2019da beklenmedik \u015fekilde %0,7 b\u00fcy\u00fcmeden -%1,3\u2019e gerilemesi, i\u00e7 talepte belirgin bir so\u011fumaya i\u015faret ediyor. Bu ani daralman\u0131n Kore Merkez Bankas\u0131 (BoK) \u00fczerinde parasal gev\u015femeye y\u00f6nelme bask\u0131s\u0131n\u0131 ciddi \u00f6l\u00e7\u00fcde art\u0131raca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyoruz. Bu makro de\u011fi\u015fim, Kore Wonu\u2019nda zay\u0131flama ve tahvil getirilerinde d\u00fc\u015f\u00fc\u015f beklentisiyle konumlanmak isteyen t\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131 i\u00e7in k\u0131sa vadede f\u0131rsatlar yarat\u0131yor.<\/p>\n

Tarihsel olarak, yurt i\u00e7i hizmetler h\u0131zl\u0131 darald\u0131\u011f\u0131nda sermayenin yerel piyasalardan geri \u00e7ekilmesiyle Won\u2019un g\u00f6rece zay\u0131f performans g\u00f6sterdi\u011fi g\u00f6r\u00fcl\u00fcr. Kurun yakla\u015fan de\u011fer kayb\u0131ndan faydalanmak i\u00e7in k\u0131sa vadeli USD\/KRW al\u0131m (call) opsiyonlar\u0131n\u0131n al\u0131nmas\u0131n\u0131 \u00f6neriyoruz. Won\u2019un halihaz\u0131rda 1.350 civar\u0131nda i\u015flem g\u00f6rd\u00fc\u011f\u00fc ortamda, 1.380\u2019e do\u011fru bir harekete oynayan yat\u0131r\u0131mc\u0131lar i\u00e7in opsiyon primleri h\u00e2len g\u00f6rece d\u00fc\u015f\u00fck.<\/p>\n

Tahvil Getirileri, Hisse Senedi Riskleri ve \u0130\u015flem Stratejileri<\/h3>\n

Sabit getirili tarafta, getirilerin gerilemesiyle Kore Hazine Tahvili (KTB) vadeli i\u015flemlerinin y\u00fckseli\u015f g\u00f6stermesini bekliyoruz. Getirilerdeki bu a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareketten yararlanmak i\u00e7in yat\u0131r\u0131mc\u0131lar 3 y\u0131ll\u0131k KTB vadeli kontratlar\u0131nda uzun (long) pozisyon d\u00fc\u015f\u00fcnebilir. Kore\u2019de ge\u00e7mi\u015f yava\u015flama d\u00f6nemleri, benzer hizmet sekt\u00f6r\u00fc sert d\u00fc\u015f\u00fc\u015flerinin k\u0131sa vadeli getirilerde haftalar i\u00e7inde s\u0131kl\u0131kla 20-30 baz puanl\u0131k bir gerilemeyi tetikledi\u011fini g\u00f6steriyor.<\/p>\n

Kospi endeksi, zay\u0131f perakende sat\u0131\u015flara e\u015flik eden i\u00e7 t\u00fcketici sa\u011fl\u0131\u011f\u0131ndaki bozulma nedeniyle y\u00fcksek derecede k\u0131r\u0131lgan kalmay\u0131 s\u00fcrd\u00fcr\u00fcyor. Daha geni\u015f bir hisse geri \u00e7ekilmesine kar\u015f\u0131 korunma (hedge) amac\u0131yla Kospi 200 endeksi \u00fczerinde kullan\u0131m fiyat\u0131 cari seviyeye yak\u0131n (near-the-money) sat\u0131m (put) opsiyonlar\u0131n\u0131n al\u0131nmas\u0131n\u0131 \u00f6neriyoruz. Yerel perakende sat\u0131\u015flar son bir y\u0131ld\u0131r kal\u0131c\u0131 zay\u0131fl\u0131k sinyali verirken, bu hizmet sekt\u00f6r\u00fc daralmas\u0131 i\u00e7 odakl\u0131 sekt\u00f6rler \u00fczerindeki bask\u0131n\u0131n belirgin \u015fekilde artt\u0131\u011f\u0131n\u0131 teyit ediyor.<\/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: G\u00fcney Kore hizmet \u00fcretimi Temmuz\u2019da %1,3 darald\u0131, Haziran\u2019daki %0,7 art\u0131\u015f tersine d\u00f6nd\u00fc. BoK\u2019da gev\u015feme bask\u0131s\u0131, Won\u2019da zay\u0131flama; USD\/KRW call, KTB long, Kospi put \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":49987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-53424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t