{"id":13241,"date":"2026-06-25T17:50:20","date_gmt":"2026-06-25T20:50:20","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=13241"},"modified":"2026-06-25T17:50:21","modified_gmt":"2026-06-25T20:50:21","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c06%ec%9b%94-25%ec%9d%bc-2","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=13241","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(06\uc6d4 25\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

\uc624\ub298\uc758 \uacbd\uc81c<\/p>\n\n\n\n

    \n
  1. ‘\uc288\ud37c RIGI’ \ubc95\uc548 \ud558\uc6d0 \ud1b5\uacfc
    \ud558\uc6d0\uc740 \uc2e0\uc0b0\uc5c5 \ub300\uaddc\ubaa8 \ud22c\uc790 \uc778\uc13c\ud2f0\ube0c \uc81c\ub3c4(\uc77c\uba85 ‘\uc288\ud37c RIGI’)\ub97c \uc2b9\uc778\ud588\uc2b5\ub2c8\ub2e4.
    \uacbd\uc81c\ubd80\uac00 \ucd94\uc9c4\ud55c \uc774 \ubc95\uc548\uc740 \ucca8\ub2e8\uae30\uc220 \ubd84\uc57c\uc5d0 \ub300\uaddc\ubaa8 \ud22c\uc790\ub97c \uc720\uce58\ud558\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud558\uba70, \uad6d\ub0b4\uc5d0\uc11c \uc544\uc9c1 \ucda9\ubd84\ud788 \uac1c\ubc1c\ub418\uc9c0 \uc54a\uc740 \uc804\ub7b5 \uc0b0\uc5c5\uc758 \uc131\uc7a5\uc744 \uac00\uc18d\ud654\ud558\uae30 \uc704\ud574 \ub9c8\ub828\ub418\uc5c8\uc2b5\ub2c8\ub2e4.
    \uc8fc\uc694 \ub300\uc0c1 \ubd84\uc57c\ub294 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.
    *\ub9ac\ud2ac
    *\uadf8\ub9b0\uc218\uc18c
    *\uc804\uae30\uc790\ub3d9\ucc28
    *\uc778\uacf5\uc9c0\ub2a5(AI)
    \uc774 \uc81c\ub3c4\ub97c \uc801\uc6a9\ubc1b\uae30 \uc704\ud574\uc11c\ub294 \ucd5c\uc18c 10\uc5b5 \ub2ec\ub7ec\ub97c \ud22c\uc790\ud574\uc57c \ud558\uba70, \ud22c\uc790\uc790\ub294 \ucd5c\ucd08 2\ub144 \ub3d9\uc548 \uc804\uccb4 \ud22c\uc790\uc561\uc758 20% \uc774\uc0c1\uc744 \uc9d1\ud589\ud574\uc57c \ud569\ub2c8\ub2e4.
    \ub300\uc2e0 \uae30\uc5c5\ub4e4\uc740 \ub2e4\uc74c\uacfc \uac19\uc740 \uac15\ub825\ud55c \ud61c\ud0dd\uc744 \ubc1b\uc2b5\ub2c8\ub2e4.
    *30\ub144\uac04 \ubc95\uc801 \uc548\uc815\uc131 \ubcf4\uc7a5
    *\uad6d\uc81c\uc911\uc7ac \uc81c\ub3c4 \uc801\uc6a9
    *\ubc95\uc778\uc138\uc728 15% \uc801\uc6a9
    *\uc0ac\uc6a9\uc790 \uc0ac\ud68c\ubcf4\uc7a5 \ubd80\ub2f4\uae08 10% \uc801\uc6a9
    *\uad00\ub828 \uc124\ube44\uc640 \uc790\uc7ac\uc758 \uc218\uc785\u00b7\uc218\ucd9c \uad00\uc138 \uba74\uc81c
    \ud55c\ud3b8 \ud22c\uc790\uc790\ub294 \ud504\ub85c\uc81d\ud2b8 \ucd1d\ud22c\uc790\uc561\uc758 \ucd5c\uc18c 20%\ub97c \uad6d\ub0b4 \uacf5\uae09\uc5c5\uccb4\uc5d0 \ubc30\uc815\ud574\uc57c \ud558\ub294 \uc758\ubb34\ub3c4 \ubd80\ub2f4\ud558\uac8c \ub429\ub2c8\ub2e4.<\/li>\n\n\n\n
  2. \ub3c4\ub9e4\ud658\uc728, 7\uac70\ub798\uc77c \uc5f0\uc18d \uc0c1\uc2b9\ud574 \uc5f0\uc911 \ucd5c\uace0\uce58 \uae30\ub85d
    \ub3c4\ub9e4\ud658\uc728\uc740 \uc218\uc694\uc77c 1\ub2ec\ub7ec\ub2f9 1,479\ud398\uc18c\uae4c\uc9c0 \uc0c1\uc2b9\ud558\uba70 \uc62c\ud574 \ucd5c\uace0\uce58\ub97c \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4.
    7\uac70\ub798\uc77c \uc5f0\uc18d \uc0c1\uc2b9\ud55c \uacb0\uacfc, 6\uc6d4 \ub4e4\uc5b4 \ub204\uc801 \uc0c1\uc2b9\ub960\uc740 5% \uc774\uc0c1\uc774 \ub418\uc5c8\uc9c0\ub9cc, \uc5ec\uc804\ud788 \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8\ubcf4\ub2e4 21.5% \ub0ae\uc740 \uc218\uc900\uc785\ub2c8\ub2e4.
    \ud604\uc7ac \ud658\uc728\uc740 \uc62c\ud574 1\uc6d4 \uc218\uc900\uc73c\ub85c \ub418\ub3cc\uc544\uac14\uc73c\uba70, \uc774\ub294 \uce90\ub9ac\ud2b8\ub808\uc774\ub4dc\uc5d0 \ub300\ud55c \uc704\ud5d8 \uc778\uc2dd\uc774 \ucee4\uc84c\uc74c\uc744 \uc758\ubbf8\ud569\ub2c8\ub2e4.
    \uc2dc\uc7a5\uc5d0\uc11c\ub294 \ub300\ub450 \uc218\ud655 \uc885\ub8cc \uc774\ud6c4 \uc678\ud654 \uacf5\uae09\uc774 \uacc4\uc808\uc801\uc73c\ub85c \uac10\uc18c\ud558\ub294 \ud558\ubc18\uae30 \uc9c4\uc785\uc744 \uc774\ubc88 \uc0c1\uc2b9\uc758 \uc8fc\uc694 \uc6d0\uc778\uc73c\ub85c \ubcf4\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc774\ub0a0 \uacf5\uc2dd \uc678\ud658\uc2dc\uc7a5 \uac70\ub798 \uaddc\ubaa8\ub294 6\uc5b5 4,800\ub9cc \ub2ec\ub7ec\uc600\uc2b5\ub2c8\ub2e4.
    \ub2ec\ub7ec \uc120\ubb3c\uc2dc\uc7a5\ub3c4 \uc804\ubc18\uc801\uc73c\ub85c \uc0c1\uc2b9\ud558\uc5ec \uc5f0\ub9d0 \uc608\uc0c1 \ud658\uc728\uc740 1,653\ud398\uc18c\ub85c \ud615\uc131\ub418\uc5c8\uc2b5\ub2c8\ub2e4.
    \ubc18\uba74 \uae08\uc735\ub2ec\ub7ec\ub294 \ud558\ub77d\ud588\uc2b5\ub2c8\ub2e4.
    MEP \ud658\uc728\uc740 1,502.64\ud398\uc18c,
    CCL \ud658\uc728\uc740 1,551.93\ud398\uc18c\ub85c \uac70\ub798\ub410\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n
  3. \uc7ac\ubb34\uccad, 16\uc870 \ud398\uc18c \uad6d\ucc44 \ucc28\ud658 \uc785\ucc30 \uc2e4\uc2dc
    \uacbd\uc81c\ubd80\ub294 \uc57d 16\uc870 \ud398\uc18c \uaddc\ubaa8\uc758 \ub9cc\uae30\ub3c4\ub798 \uad6d\ucc44\ub97c \ucc28\ud658\ud558\uae30 \uc704\ud55c \uc0c8\ub85c\uc6b4 \uad6d\ucc44 \uc785\ucc30 \uc870\uac74\uc744 \ubc1c\ud45c\ud588\uc2b5\ub2c8\ub2e4.
    \uc7ac\ubb34\uccad\uc740 \ub2e4\uc74c\uacfc \uac19\uc740 \ub2e4\uc591\ud55c \uc0c1\ud488\uc744 \uc81c\uc2dc\ud569\ub2c8\ub2e4.
    *\ud398\uc18c \ud45c\uc2dc \uad6d\ucc44
    *\ub2ec\ub7ec\uc5f0\ub3d9 \ucc44\uad8c
    *\ub2ec\ub7ec \ud45c\uc2dc Bonar 2028 \uc7ac\ubc1c\ud589
    \uc774\ub294 \ud658\uc728 \uc0c1\uc2b9\uacfc \ud568\uaed8 \ud398\uc18c \ud22c\uc790\uc5d0 \ub300\ud55c \ub17c\ub780\uc774 \ucee4\uc9c0\ub294 \uac00\uc6b4\ub370 \uc2e4\uc2dc\ub418\ub294 \uc785\ucc30\uc785\ub2c8\ub2e4.
    \ud398\uc18c \uc0c1\ud488\uc5d0\ub294
    *2026\ub144 11\uc6d4 \ub9cc\uae30 \uc790\ubcf8\ud654 \uad6d\ucc44(LECAP)
    \uc778\ud50c\ub808\uc774\uc158 \uc5f0\ub3d9 \ucc44\uad8c 3\uc885
    *2027\ub144 7\uc6d4 \ub9cc\uae30 TAMAR(\uace0\uc561 \uc608\uae08) \uae08\ub9ac \uc5f0\ub3d9 \ucc44\uad8c
    *2029\ub144 \ub9d0 \ub9cc\uae30 \ub4c0\uc5bc\ucc44\uad8c \ub4f1\uc774 \ud3ec\ud568\ub429\ub2c8\ub2e4.
    \ub2ec\ub7ec \uc5f0\ub3d9 \ubd80\ubb38\uc5d0\uc11c\ub294
    *2026\ub144 8\uc6d4 \ub9cc\uae30 \uad6d\ucc44
    *2028\ub144 12\uc6d4 \ub9cc\uae30 \ucc44\uad8c\uc744 \uc7ac\ubc1c\ud589\ud558\uba70 \ubaa8\ub450 \ud398\uc18c\ub85c \uccad\uc57d\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.
    \ub610\ud55c \ub2ec\ub7ec \ud45c\uc2dc Bonar 2028\ub3c4 \uc7ac\ubc1c\ud589\ud558\uc5ec \ucd5c\ub300 2\uc5b5 6,600\ub9cc \ub2ec\ub7ec\uc758 \ud604\uae08 \uc870\ub2ec\uc744 \ubaa9\ud45c\ub85c \ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc2dc\uc7a5\uc740 \uc774\ubc88 \uc785\ucc30\uc758 \uc751\ucc30 \uaddc\ubaa8\uc640 \uae08\ub9ac\ub97c \uc815\ubd80\uc5d0 \ub300\ud55c \uc2e0\ub8b0\uc758 \ucc99\ub3c4\ub85c \ud3c9\uac00\ud560 \uc804\ub9dd\uc785\ub2c8\ub2e4.<\/li>\n\n\n\n
  4. MSCI \ud6a8\uacfc\uc640 \ub300\uc678 \uc545\uc7ac, \uc544\ub974\ud5e8\ud2f0\ub098 \uae08\uc735\uc2dc\uc7a5 \ucda9\uaca9
    MSCI(\ubaa8\uac74\uc2a4\ud0e0\ub9ac \uce90\ud53c\ud0c8 \uc778\ud130\ub0b4\uc154\ub110) \uc544\ub974\ud5e8\ud2f0\ub098\ub97c \uacc4\uc18d ‘\ub3c5\ub9bd\uc2dc\uc7a5(Standalone Market)’\uc73c\ub85c \uc720\uc9c0\ud558\uae30\ub85c \uacb0\uc815\ud558\uba74\uc11c \uc544\ub974\ud5e8\ud2f0\ub098 \uc99d\uc2dc\ub294 \ud070 \ud3ed\uc73c\ub85c \ud558\ub77d\ud588\uc2b5\ub2c8\ub2e4.
    MSCI \uc5f0\ub840 \uc2ec\uc0ac\uc5d0\uc11c \uc2b9\uaca9\ub418\uc9c0 \ubabb\ud55c \uc774\ud6c4
    \ubbf8\uad6d \uc0c1\uc7a5 \uc544\ub974\ud5e8\ud2f0\ub098 ADR\uc740 \ucd5c\ub300 7% \ud558\ub77d
    \uba54\ub974\ubc1c(Merval) \uc9c0\uc218\ub294 \ub2ec\ub7ec \uae30\uc900 5.9% \ud558\ub77d\ud588\uc2b5\ub2c8\ub2e4.
    \uc774\ub294 \ub274\uc695 \uc99d\uc2dc \uc57d\uc138\uc640\ub3c4 \ub9de\ubb3c\ub838\uc2b5\ub2c8\ub2e4.
    *\ub098\uc2a4\ub2e5: -0.43%
    *S&P500: -0.10%
    \ubc18\uba74 \uad6d\ucc44\ub294 \ube44\uad50\uc801 \uacac\uc870\ud588\uc2b5\ub2c8\ub2e4.
    Global 2035\uacfc GD46\uc740 \ud574\uc678\uc2dc\uc7a5\uc5d0\uc11c 0.18% \uc0c1\uc2b9\ud588\uace0, AL41\uc740 \uad6d\ub0b4\uc2dc\uc7a5\uc5d0\uc11c 0.8% \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4.
    \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 0.9% \uc0c1\uc2b9\ud55c 437bp\ub85c \ub9c8\uac10\ud588\uc2b5\ub2c8\ub2e4.
    \ud22c\uc790\uc790\ub4e4\uc740 \ud5a5\ud6c4 7\uc6d4 9\uc77c \uc608\uc815\ub41c \uad6d\ucc44 \uc774\uc790 \uc9c0\uae09 \uc774\ud6c4 \uc7ac\ud22c\uc790 \uaddc\ubaa8\ub97c \uc8fc\ubaa9\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc774\uc640\uad00\ub828 BAE Negocios \uc9c0\ub294 \ub2e4\uc74c\uacfc \uac19\uc774 \ubd84\uc11d\ud588\uc2b5\ub2c8\ub2e4.
    “\uc544\ub974\ud5e8\ud2f0\ub098\ub294 \ud658\uc728\uc2dc\uc7a5 \uc811\uadfc \uc81c\ud55c \ub54c\ubb38\uc5d0 \uad6d\uc81c \ud22c\uc790\uc790\uae08 \uc720\uc785\uc5d0\uc11c \uacc4\uc18d \uc18c\uc678\ub420 \uac83\uc774\ub2e4. \ub3c5\ub9bd\uc2dc\uc7a5 \uc9c0\uc704\uac00 \uc720\uc9c0\ub41c \uac00\uc7a5 \ud070 \uc774\uc720\ub294 \uc678\ud658\uaddc\uc81c\uc640 \uc790\ubcf8 \uc774\ub3d9 \uc81c\ud55c \ub54c\ubb38\uc774\ub2e4. \uc774\ub7ec\ud55c \uaddc\uc81c\ub294 \uae00\ub85c\ubc8c \uc790\uae08\uc758 \uc720\uc785\uacfc \uc720\ucd9c\uc744 \uc5b4\ub835\uac8c \ub9cc\ub4e0\ub2e4.”<\/li>\n\n\n\n
  5. \uc6d4\uac00, \uae30\uc220\uc8fc \uc57d\uc138\uc640 \uc720\uac00 \ud558\ub77d \uc18d \ud63c\uc870\uc138
    \ubc18\ub3c4\uccb4\uc640 \uba54\ubaa8\ub9ac \uad00\ub828 \uae30\uc220\uc8fc\uc758 \uc57d\uc138\ub85c \uc6d4\uac00\ub294 \ud63c\uc870\uc138\ub97c \ub098\ud0c0\ub0c8\uc2b5\ub2c8\ub2e4.
    \ud22c\uc790\uc790\ub4e4\uc740 \ubc18\ub3c4\uccb4 \uae30\uc5c5 \ub9c8\uc774\ud06c\ub860(Micron Technology)\uc758 \uc2e4\uc801 \ubc1c\ud45c\ub97c \uc55e\ub450\uace0 \uc2e0\uc911\ud55c \ud0dc\ub3c4\ub97c \uc720\uc9c0\ud588\uc2b5\ub2c8\ub2e4.
    \uc774\ub0a0 \uc8fc\uc694 \uc9c0\uc218\ub294 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.
    *\ub2e4\uc6b0\uc874\uc2a4: +0.4%
    *S&P500: -0.1%
    *\ub098\uc2a4\ub2e5: -0.4%
    \uc2dc\uc7a5 \uc2ec\ub9ac\ub294 \uad6d\uc81c\uc720\uac00 \ud558\ub77d\uc73c\ub85c \uc77c\ubd80 \uac1c\uc120\ub418\uc5c8\uc2b5\ub2c8\ub2e4.
    \ubbf8\uad6d\uacfc \uc774\ub780 \uac04\uc758 \uc784\uc2dc \ud3c9\ud654 \ud569\uc758 \uc774\ud6c4 \uc9c0\uc815\ud559\uc801 \uc704\ud5d8\uc774 \uc644\ud654\ub418\uba74\uc11c, WTI 8\uc6d4\ubb3c\uc740 \ubc30\ub7f4\ub2f9 70\ub2ec\ub7ec \uc544\ub798\ub85c \ud558\ub77d\ud558\uc5ec 3\uc6d4 \ubd84\uc7c1 \uc774\ud6c4 \ucd5c\uc800 \uc218\uc900\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4.
    \uc720\uac00 \ud558\ub77d\uc740 \uc138\uacc4 \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825\uc744 \uc644\ud654\uc2dc\ud0a4\uba70, \uc8fc\uc694 \uacbd\uc81c\uc9c0\ud45c \ubc1c\ud45c\ub97c \uc55e\ub450\uace0 \ucd94\uac00 \uae08\ub9ac \uc778\uc0c1 \uac00\ub2a5\uc131\uc744 \ub0ae\ucd94\ub294 \uc694\uc778\uc73c\ub85c \ud3c9\uac00\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":13242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"_joinchat":[],"footnotes":""},"categories":[23,25,61],"tags":[],"class_list":["post-13241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-noticias-argentina","category-informes-economicos"],"_links":{"self":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/13241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13241"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/13241\/revisions"}],"predecessor-version":[{"id":13243,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/13241\/revisions\/13243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/13242"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}