Okay, this has nothing to do with Kymco (it's a Yamaha XV250), but I'm stuck and exhausted the relevant forum. In any case, I think most bikes have a pretty similar charging system.
I have two electrical problems, and I'm not sure if they're related:
One problem is that when the turn signals flash, every other light dims. These lights are fed on different positive lines after the ignition switch, but they share a ground.
The other problem is a charging voltage of up to 13.2v, measured at the battery -- low.
It looks like (according the wiring diagram, and what I can find) all the components are grounded to the frame through a single ground point. That point seems to be good as far as I can tell. No difference cleaning it up, no difference moving it to negative battery post.
Stator resistance measures good -- all about 0.4 ohms between the leads. It's a tiny bit higher than what the manual says, but it's possible that the stator just changed. No continuity to ground. VAC output is also good, 15v idle, 40v light throttle.
I did some kind of test for the rectifier that I found online, measuring with the diode function -- I don't remember the details, but it apparently passed.
The VDC output measured at the rectifier gets is up to 14.0v. Much better. If I measure with one lead at the battery, one at the rectifier (positive/negative doesn't matter), I get 13.8.
My best guess is that there's a bad wire or a short somewhere, but I just don't know. And I don't know how to find it if there is.