Bank of Korea officials have convened an emergency meeting in the wake of China’s market plunge.

The central bank officials decided during Tuesday's meeting to strengthen monitoring of financial and foreign exchange markets as China's economic slowdown could dampen investor sentiment.

The officials, however, predicted that market falls in China reaching up to six-point-eight-five percent on Monday would have limited effects on South Korean markets.
 
China's Shanghai Composite Index triggered a circuit breaker midday on Monday after plunging almost seven percent. The drop led to falls in emerging markets including South Korea's. The Korean won depreciated on Monday to its weakest level in three months against the dollar.

The Dow Jones Industrial Average fell 276-point-09 points, or one-point-58 percent. The NASDAQ also fell 104-point-32 points or two-point-08 percent.