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Hong Kong hit by Typhoon Higos, threatening to cancel morning trading in local stock market

Bloomberg
Bloomberg • 2 min read
Hong Kong hit by Typhoon Higos, threatening to cancel morning trading in local stock market
Under exchange rules, the morning trading session will be cancelled if signal No. 8 or above is still hoisted at 9 a.m. Hong Kong time. If the signal isn’t lowered before noon, the entire day’s trading will be abandoned.
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Hong Kong was hit by its strongest typhoon this year, threatening to cancel morning trading in the city’s US$5.8 trillion ($7.91 trillion) local stock market, shutting many businesses and disrupting public transportation.

The Hong Kong Observatory lowered its storm signal to No. 8, the third-highest on its scale, from 9 at 7:40 a.m. local time, saying winds with mean speeds of 63 km (39 mph) per hour or more are expected. The signal will be lowered to No. 3 between 11 a.m. and 1 p.m., it said in a statement on its website.

Most businesses close and public transport becomes limited when No. 8 signal or above is in place. The city is already facing its toughest social distancing restrictions so far due to a flare up of coronavirus cases, with restaurants forced to close at 6 p.m., public gatherings of more than two people banned and school lessons taking place online.

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