At half throttle using a good quality twenty five dollar - ish multimeter, expect less than .1 volts AC - a tiny amount. Less than a tenth of a volt AC. Cheap meters of the free or five dollar variety at Harbor Freight struggle with taking accurate AC measurements. If in doubt, run these tests with the engine running on a modern automobile battery to see how well your meter functions.
Hope to see around 14.5 volts DC on a fully charged and healthy battery.
Anything much different than this indicates problems with the regulator / rectifier or possibly the stator.
Has your bike ever been ran without a battery?
Rick
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