South Korea's KOSPI index has experienced a decline of 15% since its peak in July, according to market analyst Keith McCullough. This downturn is part of a broader trend identified by Hedgeye, which has been signaling a short position on South Korea since October. In contrast, Singapore's stock market is on the rise, with a reported increase of 0.6% overnight and a total gain of 6.7% over the past month, reaching an all-time high. The positive momentum in Singapore is attributed to renewed optimism surrounding the city-state's banking sector, which has bolstered the overall market.