Nikkei 225 opens down 0.9%; Kospi opens down 3.2%

The striking detail is the divergence: Korea's open is more than three times Japan's decline, and the losses are concentrated in memory and chip names rather than broad indices. That points to sector-specific pressure on semiconductor exposure in Seoul rather than a uniform regional risk-off move. Given how tightly Asian chipmakers are tied to global AI and data-center demand narratives, the read-through extends well beyond these two markets. Whether the selling stays confined to semiconductors or broadens across the Kospi through the session is the open question.