{"id":45131,"date":"2026-04-21T01:54:48","date_gmt":"2026-04-21T01:54:48","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e5%8d%8e%e4%be%a8%e9%93%b6%e8%a1%8c%ef%bc%9a%e4%ba%9a%e6%b4%b2%e8%b4%a7%e5%b8%81%e6%88%96%e5%b0%86%e5%8f%8d%e8%bd%ac%ef%bc%8c%e7%94%b1%e9%9f%a9%e5%85%83%e9%a2%86%e8%b7%8c%ef%bc%9b%e9%9c%8d%e5%b0%94\/"},"modified":"2026-04-21T01:54:48","modified_gmt":"2026-04-21T01:54:48","slug":"%e5%8d%8e%e4%be%a8%e9%93%b6%e8%a1%8c%ef%bc%9a%e4%ba%9a%e6%b4%b2%e8%b4%a7%e5%b8%81%e6%88%96%e5%b0%86%e5%8f%8d%e8%bd%ac%ef%bc%8c%e7%94%b1%e9%9f%a9%e5%85%83%e9%a2%86%e8%b7%8c%ef%bc%9b%e9%9c%8d%e5%b0%94","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e5%8d%8e%e4%be%a8%e9%93%b6%e8%a1%8c%ef%bc%9a%e4%ba%9a%e6%b4%b2%e8%b4%a7%e5%b8%81%e6%88%96%e5%b0%86%e5%8f%8d%e8%bd%ac%ef%bc%8c%e7%94%b1%e9%9f%a9%e5%85%83%e9%a2%86%e8%b7%8c%ef%bc%9b%e9%9c%8d%e5%b0%94\/","title":{"rendered":"\u534e\u4fa8\u94f6\u884c\uff1a\u4e9a\u6d32\u8d27\u5e01\u6216\u5c06\u53cd\u8f6c\uff0c\u7531\u97e9\u5143\u9886\u8dcc\uff1b\u970d\u5c14\u6728\u5179\u7d27\u5f20\u5c40\u52bf\u63a8\u9ad8\u6cb9\u4ef7\uff0c\u62d6\u7d2f\u5176\u4ed6\u8d27\u5e01\u8d70\u5f31"},"content":{"rendered":"

OCBC \u7b56\u7565\u5e08 Sim Moh Siong \u4e0e Christopher Wong \u8868\u793a\uff0c\u4e9a\u6d32\u5916\u6c47\u53ef\u80fd\u56de\u5410\u4e0a\u5468\u4e94\u8f83\u665a\u65f6\u6bb5\u7684\u6da8\u5e45\u3002\u539f\u56e0\u662f\u4f0a\u6717\u518d\u6b21\u58f0\u79f0\u8981\u5173\u95ed\u970d\u5c14\u6728\u5179\u6d77\u5ce1\uff08Strait of Hormuz\uff0c\u6ce2\u65af\u6e7e\u901a\u5f80\u5916\u6d77\u7684\u5173\u952e\u822a\u9053\uff1b\u4e00\u65e6\u53d7\u963b\uff0c\u5168\u7403\u539f\u6cb9\u8fd0\u8f93\u4f1a\u53d7\u5f71\u54cd\uff09\uff0c\u540c\u65f6\u7f8e\u5143\u53ef\u80fd\u56e0\u201c\u907f\u9669\u9700\u6c42\u201d\uff08safe-haven demand\uff0c\u5e02\u573a\u62c5\u5fc3\u98ce\u9669\u65f6\u8f6c\u5411\u66f4\u88ab\u89c6\u4e3a\u5b89\u5168\u7684\u8d44\u4ea7\u4e0e\u8d27\u5e01\uff09\u800c\u8d70\u5f3a\u3002<\/p>\n

\u9884\u8ba1\u201c\u9ad8\u8d1d\u5854\u201d\uff08high-beta\uff0c\u5bf9\u5e02\u573a\u98ce\u9669\u60c5\u7eea\u66f4\u654f\u611f\u3001\u6da8\u8dcc\u66f4\u5927\uff09\u7684\u4e9a\u6d32\u8d27\u5e01\u5c06\u5e26\u5934\u56de\u843d\uff0c\u5176\u4e2d\u7279\u522b\u70b9\u540d\u97e9\u5143\uff08KRW\uff09\u662f\u4e3b\u8981\u6ce2\u52a8\u6765\u6e90\u3002\u97e9\u5143\u6b64\u524d\u56e0\u5229\u597d\u6d88\u606f\u800c\u8d70\u5f3a\u3002<\/p>\n

Market Reaction And Safe Haven Dynamics<\/h3>\n

\u5176\u4ed6\u4e9a\u6d32\u8d27\u5e01\uff0c\u5305\u62ec\u65b0\u53f0\u5e01\uff08TWD\uff09\u3001\u5370\u5ea6\u5362\u6bd4\uff08INR\uff09\u3001\u6cf0\u94e2\uff08THB\uff09\u548c\u83f2\u5f8b\u5bbe\u6bd4\u7d22\uff08PHP\uff09\uff0c\u4e5f\u53ef\u80fd\u8d70\u5f31\uff0c\u4e3b\u8981\u56e0\u4e3a\u5b83\u4eec\u5bf9\u6cb9\u4ef7\u4e0e\u6574\u4f53\u98ce\u9669\u60c5\u7eea\u66f4\u654f\u611f\u3002<\/p>\n

\u201c\u4f4e\u8d1d\u5854\u201d\uff08lower-beta\uff0c\u901a\u5e38\u6ce2\u52a8\u8f83\u5c0f\u3001\u5bf9\u98ce\u9669\u60c5\u7eea\u6ca1\u90a3\u4e48\u654f\u611f\uff09\u7684\u8d27\u5e01\uff0c\u5982\u79bb\u5cb8\u4eba\u6c11\u5e01\uff08CNH\uff0c\u5728\u4e2d\u56fd\u5883\u5916\u4ea4\u6613\u7684\u4eba\u6c11\u5e01\uff09\u4e0e\u65b0\u5143\uff08SGD\uff09\uff0c\u6ce2\u52a8\u53ef\u80fd\u8f83\u5c0f\uff0c\u4f46\u4ecd\u53ef\u80fd\u627f\u538b\u3002<\/p>\n

\u62a5\u544a\u63d0\u5230\u5730\u7f18\u653f\u6cbb\uff08geopolitics\uff0c\u56fd\u5bb6\u4e0e\u5730\u533a\u51b2\u7a81\u3001\u5916\u4ea4\u4e0e\u5b89\u5168\u5c40\u52bf\uff09\u53d8\u5316\uff0c\u4ee5\u53ca\u6301\u7eed\u7684\u505c\u706b\u8c08\u5224\uff1b\u540c\u65f6\u4e5f\u63d0\u5230\u201c\u53cc\u5411\u4ea4\u6613\u201d\uff08two-way trading\uff0c\u5e02\u573a\u53ef\u80fd\u4e0a\u4e0b\u6765\u56de\u6ce2\u52a8\uff0c\u4e70\u5356\u529b\u91cf\u90fd\u51fa\u73b0\uff09\u7684\u73af\u5883\u3002<\/p>\n

\u8be5\u6587\u7ae0\u5728\u4eba\u5de5\u667a\u80fd\u5de5\u5177\u534f\u52a9\u4e0b\u5b8c\u6210\uff0c\u5e76\u7531\u7f16\u8f91\u5ba1\u9605\u3002<\/p>\n

Strategy Implications For Asian Fx<\/h3>\n

\u6211\u4eec\u8bb0\u5f97\u5e02\u573a\u53bb\u5e74\u5982\u4f55\u5e94\u5bf9\u5730\u7f18\u5c40\u52bf\u7a81\u53d8\uff0c\u5c24\u5176\u662f2025\u5e74\u540c\u671f\u56f4\u7ed5\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u7d27\u5f20\u5347\u6e29\u3002\u5f53\u65f6\u663e\u793a\uff0c\u4e9a\u6d32\u8d27\u5e01\u4f1a\u5f88\u5feb\u56de\u5410\u6da8\u5e45\uff0c\u800c\u7f8e\u5143\u4f1a\u83b7\u5f97\u907f\u9669\u4e70\u76d8\u3002\u8fd9\u79cd\u5bf9\u5168\u7403\u98ce\u9669\u66f4\u654f\u611f\u7684\u6a21\u5f0f\uff0c\u81f3\u4eca\u4ecd\u662f\u5173\u952e\u56e0\u7d20\u3002<\/p>\n

\u9ad8\u8d1d\u5854\u7684\u97e9\u5143\u5728\u4e0d\u786e\u5b9a\u65f6\u671f\u4ecd\u5e26\u9886\u533a\u57df\u56de\u8c03\uff0c\u548c2025\u5e74\u7c7b\u4f3c\u3002\u8fd1\u671f\u97e9\u5143\u5151\u7f8e\u5143\uff08KRW\/USD\uff09\u89e6\u53ca1,410\uff08\u8868\u793a1\u7f8e\u5143\u53ef\u5151\u6362\u7ea61,410\u97e9\u5143\uff09\uff0c\u4e3a\u5f53\u5e74\u52a8\u8361\u671f\u4ee5\u6765\u9ad8\u4f4d\uff0c\u4ea4\u6613\u8005\u53ef\u8003\u8651\u4e70\u5165\u97e9\u5143\u201c\u770b\u8dcc\u671f\u6743\u201d\uff08puts\uff0c\u671f\u6743\u7684\u4e00\u79cd\uff1b\u7528\u8f83\u5c0f\u6210\u672c\u9501\u5b9a\u5728\u672a\u6765\u4ee5\u67d0\u4ef7\u683c\u5356\u51fa\u7684\u6743\u5229\uff0c\u7528\u6765\u5bf9\u51b2\u4e0b\u8dcc\u98ce\u9669\uff09\u3002\u8fd9\u80fd\u66f4\u76f4\u63a5\u5bf9\u51b2\u7531\u4f9b\u5e94\u94fe\u6216\u5730\u7f18\u6d88\u606f\u5f15\u53d1\u7684\u201c\u98ce\u9669\u504f\u597d\u4e0b\u964d\u201d\uff08risk-off\uff0c\u8d44\u91d1\u8f6c\u5411\u4fdd\u5b88\u8d44\u4ea7\uff09\u7684\u60c5\u7eea\u3002<\/p>\n

\u5bf9\u6cb9\u4ef7\u654f\u611f\u7684\u8d27\u5e01\uff0c\u5982\u5370\u5ea6\u5362\u6bd4\u4e0e\u6cf0\u94e2\uff0c\u4ecd\u504f\u5f31\u3002\u968f\u7740\u5e03\u4f26\u7279\u539f\u6cb9\uff08Brent crude\uff0c\u56fd\u9645\u4e3b\u8981\u539f\u6cb9\u57fa\u51c6\u4ef7\u683c\u4e4b\u4e00\uff09\u57282026\u5e744\u6708\u671f\u95f4\u7ef4\u6301\u5728\u6bcf\u687690\u7f8e\u5143\u4ee5\u4e0a\u76d8\u6574\uff0c\u53cd\u6620\u6301\u7eed\u5b58\u5728\u7684\u201c\u5730\u7f18\u98ce\u9669\u6ea2\u4ef7\u201d\uff08risk premium\uff0c\u5e02\u573a\u56e0\u4e0d\u786e\u5b9a\u6027\u8981\u6c42\u66f4\u9ad8\u8865\u507f\uff09\uff0c\u8fd9\u4e9b\u4f9d\u8d56\u8fdb\u53e3\u539f\u6cb9\u7684\u7ecf\u6d4e\u4f53\u5c06\u627f\u53d7\u66f4\u5927\u538b\u529b\u3002\u6211\u4eec\u8ba4\u4e3a\uff0c\u901a\u8fc7\u505a\u591a\u539f\u6cb9\u671f\u8d27\uff08oil futures\uff0c\u7ea6\u5b9a\u672a\u6765\u4ee5\u67d0\u4ef7\u683c\u4e70\u5356\u539f\u6cb9\u7684\u5408\u7ea6\uff1b\u6cb9\u4ef7\u4e0a\u6da8\u65f6\u53ef\u83b7\u5229\uff09\u6765\u5bf9\u51b2\u5916\u6c47\u655e\u53e3\uff0c\u4ecd\u662f\u8f83\u624e\u5b9e\u7684\u7b56\u7565\u3002<\/p>\n

\u5728\u8fd9\u6837\u7684\u73af\u5883\u4e0b\uff0c\u4f4e\u8d1d\u5854\u7684\u65b0\u5143\u4e0e\u4eba\u6c11\u5e01\u76f8\u5bf9\u7a33\u5b9a\uff0c\u4f46\u4ecd\u4f1a\u88ab\u7f8e\u5143\u6574\u4f53\u8d70\u5f3a\u538b\u5236\uff0c\u7f8e\u5143\u6307\u6570\uff08Dollar Index\uff0cDXY\uff0c\u7528\u4e00\u7bee\u5b50\u4e3b\u8981\u8d27\u5e01\u8861\u91cf\u7f8e\u5143\u5f3a\u5f31\u7684\u6307\u6807\uff09\u7ef4\u6301\u5728106\u4ee5\u4e0a\u3002\u6b64\u73af\u5883\u652f\u6301\u201c\u884d\u751f\u54c1\u201d\uff08derivatives\uff0c\u4ef7\u503c\u6765\u81ea\u6807\u7684\u8d44\u4ea7\u5982\u6c47\u7387\u3001\u5229\u7387\u4e0e\u5546\u54c1\u7684\u91d1\u878d\u5de5\u5177\uff09\u7b56\u7565\uff0c\u4f8b\u5982\u201c\u76f8\u5bf9\u4ef7\u503c\u4ea4\u6613\u201d\uff08relative value trades\uff0c\u540c\u65f6\u4e70\u5165\u8f83\u5f3a\u8005\u3001\u5356\u51fa\u8f83\u5f31\u8005\uff0c\u8d5a\u53d6\u4e24\u8005\u8868\u73b0\u5dee\u8ddd\uff09\uff1a\u505a\u591a\u65b0\u5143\u3001\u505a\u7a7a\u66f4\u8106\u5f31\u7684\u97e9\u5143\u3002\u8fd9\u79cd\u505a\u6cd5\u6709\u52a9\u628a\u63e1\u9ad8\u4e0e\u4f4e\u8d1d\u5854\u8d27\u5e01\u4e4b\u95f4\u7684\u8868\u73b0\u5dee\u3002<\/p>\n

\u8fc7\u53bb\u4e00\u5e74\u7684\u91cd\u70b9\u662f\uff1a\u5730\u7f18\u5c40\u52bf\u53d8\u5316\u5feb\uff0c\u66f4\u9002\u5408\u91c7\u7528\u80fd\u4ece\u6ce2\u52a8\u4e2d\u83b7\u5229\u7684\u53cc\u5411\u7b56\u7565\u3002\u7531\u4e8e\u4e3b\u8981\u4e9a\u6d32\u8d27\u5e01\u5bf9\u7684\u201c\u9690\u542b\u6ce2\u52a8\u7387\u201d\uff08implied volatility\uff0c\u671f\u6743\u4ef7\u683c\u53cd\u6620\u5e02\u573a\u5bf9\u672a\u6765\u6ce2\u52a8\u7684\u9884\u671f\uff09\u4ecd\u504f\u9ad8\uff0c\u4f7f\u7528\u201c\u8de8\u5f0f\u671f\u6743\u7b56\u7565\u201d\uff08option straddles\uff0c\u540c\u65f6\u4e70\u5165\u540c\u4e00\u5230\u671f\u65e5\u3001\u540c\u4e00\u6267\u884c\u4ef7\u7684\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff1b\u53ea\u8981\u4ef7\u683c\u5927\u5e45\u5411\u4efb\u4e00\u65b9\u5411\u6ce2\u52a8\u5c31\u53ef\u80fd\u83b7\u5229\uff09\u5728\u7f8e\u5143\/\u97e9\u5143\uff08USD\/KRW\uff09\u7b49\u8d27\u5e01\u5bf9\u4e0a\u66f4\u5177\u5438\u5f15\u529b\uff0c\u53ef\u5728\u6d88\u606f\u9762\u968f\u65f6\u6539\u53d8\u65b9\u5411\u65f6\u4e89\u53d6\u673a\u4f1a\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u4f0a\u6717\u518d\u63d0\u5c01\u9501\u970d\u5c14\u6728\u5179\u6d77\u5ce1\uff0c\u907f\u9669\u63a8\u5347\u7f8e\u5143\uff0c\u4e9a\u6d32\u5916\u6c47\u6216\u56de\u5410\u6da8\u5e45\uff1b\u9ad8\u8d1d\u5854\u97e9\u5143\u9886\u8dcc\uff0c\u6cb9\u654f\u8d27\u5e01\u627f\u538b\uff0cCNH\u4e0eSGD\u8f83\u7a33\u3002\u7b56\u7565\uff1a\u4e70KRW\u770b\u8dcc\u3001\u539f\u6cb9\u5bf9\u51b2\u3001\u505a\u591aSGD\u7a7aKRW\u3002<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-45131","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/45131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/comments?post=45131"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/45131\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=45131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=45131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=45131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}