{"id":68863,"date":"2026-09-25T22:51:32","date_gmt":"2026-09-25T22:51:32","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/hong-kong-advances-yuan-gold-futures-and-clearing-system-to-build-international-bullion-hub\/"},"modified":"2026-09-25T22:51:32","modified_gmt":"2026-09-25T22:51:32","slug":"hong-kong-advances-yuan-gold-futures-and-clearing-system-to-build-international-bullion-hub","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/hong-kong-advances-yuan-gold-futures-and-clearing-system-to-build-international-bullion-hub\/","title":{"rendered":"Hong Kong, Uluslararas\u0131 K\u0131ymetli Maden Merkezi Olmak \u0130\u00e7in Yuan Bazl\u0131 Alt\u0131n Vadeli \u0130\u015flemleri ve Takas Sistemini \u0130lerletiyor"},"content":{"rendered":"

Hong Kong, yuan\u0131n uluslararas\u0131la\u015fmas\u0131n\u0131 desteklerken ayn\u0131 zamanda uluslararas\u0131 bir alt\u0131n merkezi in\u015fa etmek \u00fczere yeni ad\u0131mlar att\u0131; bunlar aras\u0131nda yuan cinsinden alt\u0131n vadeli i\u015flem s\u00f6zle\u015fmesi plan\u0131 da yer al\u0131yor. Londra\u2019daki LBMA\u2019nin kulland\u0131\u011f\u0131 altyap\u0131y\u0131 yans\u0131tacak \u015fekilde tasarlanan, devlete ait bir alt\u0131n takas ve mutabakat sisteminde deneme operasyonlar\u0131 ba\u015flad\u0131; buna tezg\u00e2h \u00fcst\u00fc (OTC) bir mutabakat hizmeti ve HAU adl\u0131 yeni bir alt\u0131n fiyat g\u00f6stergesinin devreye al\u0131nmas\u0131 da e\u015flik ediyor. HKEX, \u00c7ar\u015famba g\u00fcn\u00fc, 24 Eyl\u00fcl\u2019de, ABD dolar\u0131 cinsinden alt\u0131n s\u00f6zle\u015fmesini yeniden aktive etmesinin ard\u0131ndan, yuan alt\u0131n vadeli i\u015flem s\u00f6zle\u015fmesini gelecek y\u0131l\u0131n ba\u015f\u0131nda ba\u015flatmay\u0131 hedefledi\u011fini s\u00f6yledi. Giri\u015fim, ana kara \u00c7in kaynakl\u0131 hizmetlerle ba\u011flant\u0131l\u0131 \u00f6demelerde yuanla mutabakat\u0131n art\u0131r\u0131lmas\u0131n\u0131 ve renminbi tahsilatlar\u0131n\u0131n Hong Kong dolar\u0131na \u00e7evrilmeden harcanabilmesine y\u00f6nelik bir mekanizma olu\u015fturulmas\u0131n\u0131 da i\u00e7eren be\u015f y\u0131ll\u0131k bir finans plan\u0131n\u0131n par\u00e7as\u0131.<\/p>\n

Politika de\u011fi\u015fiklikleri vergi ve rezervlere de uzan\u0131yor. H\u00fck\u00fcmet, uygun nitelikli emtia t\u00fcccarlar\u0131 i\u00e7in kurumlar vergisi oran\u0131n\u0131 2027\u2019ye kadar %16,5\u2019ten %8,25\u2019e indirmeyi planl\u0131yor; bu arada Exchange Fund alt\u0131n varl\u0131klar\u0131n\u0131 art\u0131racak. Yetkililer, Hong Kong\u2019un London Metal Exchange depo a\u011f\u0131 i\u00e7indeki metal depolamas\u0131n\u0131n a\u011f\u0131rl\u0131\u011f\u0131 bak\u0131r ve \u00e7inko olmak \u00fczere 30.000 tonu a\u015ft\u0131\u011f\u0131n\u0131, yerel alt\u0131n kasalama kapasitesini ise \u00f6n\u00fcm\u00fczdeki \u00fc\u00e7 y\u0131lda 200 tondan 2.000 tona \u00e7\u0131karmay\u0131 hedeflediklerini belirtti. Ticaret ak\u0131mlar\u0131nda, \u015eubat\u2019taki 72,16 tona kar\u015f\u0131l\u0131k Temmuz\u2019da Hong Kong\u2019a 107 ton alt\u0131n girdi. K\u00fcresel \u00f6l\u00e7ekte, 2025\u2019te alt\u0131n sikke ve k\u00fcl\u00e7e talebi 12 y\u0131l\u0131n zirvesi olan 1.374,1 tona ula\u015ft\u0131; 154 milyar dolar de\u011ferindeki bu talebin yar\u0131dan fazlas\u0131 \u00c7in ve Hindistan\u2019dan geldi.<\/p>\n

Y\u00fckselen Alt\u0131n Merkezi Stat\u00fcs\u00fc Ortam\u0131nda Al\u0131m-Sat\u0131m F\u0131rsatlar\u0131<\/h3>\n

T\u00fcrev \u00fcr\u00fcn yat\u0131r\u0131mc\u0131lar\u0131n\u0131n, \u00f6n\u00fcm\u00fczdeki haftalarda Londra gibi Bat\u0131l\u0131 merkezlerden Hong Kong\u2019a do\u011fru h\u0131zlanan likidite kaymas\u0131n\u0131 yak\u0131ndan izlemesini \u00f6neriyoruz. 2026\u2019n\u0131n sonlar\u0131nda alt\u0131n fiyatlar\u0131n\u0131n ons ba\u015f\u0131na 2.600 dolar\u0131n \u00fczerindeki tarih\u00ee zirvelerde istikrarl\u0131 bi\u00e7imde i\u015flem g\u00f6rmesiyle birlikte, Hong Kong\u2019un yeni \u201cHAU\u201d fiyat g\u00f6stergesinin devreye al\u0131nmas\u0131 takip i\u00e7in anl\u0131k bir referans sunuyor. Yat\u0131r\u0131mc\u0131lar, k\u0131sa vadede LBMA ile bu y\u00fckselen Do\u011fu merkezi aras\u0131nda fiyat ayr\u0131\u015fmalar\u0131 ve arbitraj f\u0131rsatlar\u0131na haz\u0131rlanmal\u0131.<\/p>\n

Hong Kong\u2019un yuan cinsinden mutabakat\u0131 geni\u015fletmesiyle birlikte offshore yuan (CNH) d\u00f6viz paritelerinde oynakl\u0131\u011f\u0131n artmas\u0131n\u0131 da beklemek gerekiyor. Son SWIFT verilerine g\u00f6re yuan\u0131n k\u00fcresel \u00f6demelerdeki pay\u0131 istikrarl\u0131 bi\u00e7imde artarak yakla\u015f\u0131k %5 ile rekor seviyelere t\u0131rmand\u0131; yak\u0131nda gelecek yuan cinsinden alt\u0131n vadeli i\u015flem s\u00f6zle\u015fmesi bu e\u011filimi muhtemelen h\u0131zland\u0131racakt\u0131r. T\u00fcrev i\u015flem yat\u0131r\u0131mc\u0131lar\u0131, \u00f6n\u00fcm\u00fczdeki haftalar\u0131 yuan-dolar dalgalanmalar\u0131na kar\u015f\u0131 g\u00fc\u00e7l\u00fc korunma (hedge) stratejileri kurmak i\u00e7in de\u011ferlendirmeli.<\/p>\n

De\u011fi\u015fen Piyasa \u0130\u00e7in Stratejik Portf\u00f6y Ayarlamalar\u0131<\/h3>\n

Fiziki alt\u0131n ak\u0131\u015flar\u0131n\u0131n Hong Kong\u2019a h\u0131zla y\u00f6nelmesi\u2014Temmuz\u2019da b\u00f6lgeye giren 107 tonla belirginle\u015fen sert s\u0131\u00e7rama\u2014b\u00f6lgesel fiyat primlerinin dalgalanmas\u0131na neden olabilir. Tarihsel olarak, g\u00fc\u00e7l\u00fc Asya talebi zirve d\u00f6nemlerde \u015eanghay alt\u0131n primlerini Londra fiyatlar\u0131n\u0131n ons ba\u015f\u0131na 40 ila 100 dolar \u00fczerine ta\u015f\u0131d\u0131. Yat\u0131r\u0131mc\u0131lar\u0131n, USD cinsinden s\u00f6zle\u015fmeler ile yak\u0131nda devreye girecek Do\u011fu kaynakl\u0131 s\u00f6zle\u015fmeler aras\u0131ndaki geni\u015fleyen arbitraj pencerelerinden yararlanmak i\u00e7in \u015fimdiden pozisyon almas\u0131 gerekir.<\/p>\n

Emtia t\u00fcccarlar\u0131 i\u00e7in kurumlar vergisi oran\u0131n\u0131n %8,25\u2019e indirilmesine y\u00f6nelik Hong Kong plan\u0131n\u0131 dikkate alacak \u015fekilde uzun vadeli i\u015flem modellerinin bug\u00fcnden g\u00fcncellenmesini \u00f6neriyoruz. H\u00fck\u00fcmetin alt\u0131n kasalama kapasitesini 2.000 tona \u00e7\u0131kararak on kat art\u0131rmaya y\u00f6nelik agresif hamlesi, b\u00f6lgede fiziki teslimat dinamiklerini yap\u0131sal olarak de\u011fi\u015ftirecektir. Bu de\u011fi\u015fimler piyasa fiyatlamalar\u0131na tam olarak yans\u0131madan \u00f6nce portf\u00f6yleri konumland\u0131rmak, yat\u0131r\u0131mc\u0131lara erken hareket eden avantaj\u0131n\u0131 yakalama imk\u00e2n\u0131 sa\u011flayacakt\u0131r.<\/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":"

\u015eimdi g\u00f6zler Hong Kong\u2019da: Yuan\u0131n uluslararas\u0131la\u015fmas\u0131 i\u00e7in yuan bazl\u0131 alt\u0131n vadeli i\u015flemleri, LBMA benzeri devlet takas sistemi ve HAU fiyat g\u00f6stergesi geliyor; vergi indirimi ve 2.000 ton kasalama hedefiyle k\u00fcresel likidite \u00e7ekiyor.<\/p>\n","protected":false},"author":87,"featured_media":50128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-68863","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