Nikkei 225 opens down 0.4%, Kospi opens 1.6% lower

The divergence in scale is the signal: a 1.6% Kospi drop against a 0.4% Nikkei dip suggests the selling pressure is concentrated in Seoul rather than broadly regional, which points to Korea-specific drivers rather than a uniform Asia risk-off move. For crypto and RWA markets, the read-through is indirect — Asian equity weakness can color risk appetite during the session, but the gap between the two benchmarks matters more than the headline direction. Whether the Kospi underperformance persists through the session, or narrows toward the Nikkei's milder decline, is the open question.