Seoul Composite Opens 2.5% Lower; Japan Markets Closed for Holiday

The read-across is less about the size of the KOSPI drop than about the timing: with Japanese markets closed, Seoul is carrying the region's price discovery alone, and a move this sharp on a thin regional tape can overstate conviction. Whether the decline reflects Korea-specific factors or a broader risk-off impulse is the open question, and it can only be tested once Japanese trading resumes and regional liquidity returns. Until then, the signal is a single market's reaction without confirmation.