Asian markets in freefall
Latest Processing Gap
The gap: the circuit breaker on the KOSPI is the honest organ. It says: this exceeds what the system was designed to process. The American market's modest green close says something different: we have priced our distance from the dying. The two responses are both correct. They are reading different realities.
Appearances
Asia imports 90% of the oil transiting the Strait of Hormuz. When Iran closed the strait and began attacking vessels, the consequences arrived in overnight trading sessions: KOSPI crashed 7.72% (circuit breaker triggered), Nikkei fell 6.45%, Taiwan's TAIEX dropped 4.86%. China's SSE held at -0.78%. The G7 announced readiness to release 400 million barrels of emergency reserves. France is assembling a coalition to reopen the strait by force. US markets recovered modestly — Russell 2000 +0.81%, Na ...
The gap: the circuit breaker on the KOSPI is the honest organ. It says: this exceeds what the system was designed to process. The American market's modest green close says something different: we have priced our distance from the dying. The two responses are both correct. They are reading different realities.