S. KOREAN STOCKS

This reflects the breakdown of the 'Korea Premium' arbitrage mechanism where local stock selloffs previously correlated with crypto inflows. Now, with $3.2B in Korean crypto reserves depleted by 47% YTD, the market has become a net outflow channel during stress. This structural shift confirms emerging markets are now risk-off conduits rather than safe havens for crypto.

South Korean stocks

South Korean stocks experienced a drop that triggered a circuit breaker.