South Korea’s Ministry of Economy and Finance said it will track whether the recent stock market turmoil spreads into the bond, foreign exchange and money markets, Cailian Press reported. The government and related agencies will step up monitoring of equities and act firmly against any activity that disrupts market order. The ministry said the market’s fundamentals remain sound, citing strong growth expectations, a current account surplus and improving corporate earnings. The statement follows Thursday’s selloff, when the KOSPI closed 7.57% lower and both main indices triggered circuit breakers on the same day for the first time since July 29. Foreign investors have now been net sellers for eight sessions in a row.

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