[ad_1]
“As Saola continues to edge closer to Hong Kong, weather will deteriorate rapidly later today,” the Observatory said in the latest update at 8.45am local time. “There will be heavy squally showers and violent winds. The gale or storm signal No. 8 will remain in force for most of today.”
05:16
The history of deadly Hong Kong typhoons that caused widespread devastation
The history of deadly Hong Kong typhoons that caused widespread devastation
Markets will be shut for the day if a No. 8 signal or above is issued before the 9am-9.30am pre-opening session, and remains in force until noon local time, HKEX said in a statement on Friday.
The Hang Seng Index tumbled 8.5 per cent in August, its worst monthly performance since a 9.4 per cent sell-off in February. Heightened concerns about China’s economic slump, and disappointment over Beijing’s slow-drip approach to stimulus have induced fund outflows.
Hong Kong shoppers rush to stock up as Super Typhoon Saola edges closer to city
Hong Kong shoppers rush to stock up as Super Typhoon Saola edges closer to city
In the past three years, tropical storms Higos, Nangka and Nalgae have also hit the city’s financial markets, prompting top executives at HKEX to look for ways to stem losses caused by market interruptions.
HKEX handled HK$115.5 billion (US$14.5 billion) of turnover per day in securities trading in the first six months this year, a 16 per cent drop from the same period last year, according to its August 28 report. The market for exchange-traded funds averaged HK$11.7 billion per day in the same period, it added.
Separately, Hong Kong’s schools and kindergartens will also be shut on Friday, which marks the first day of a new semester. The neighbouring city of Shenzhen in southern Guangdong province will also close schools, pushing back the start of a new semester to September 4.
[ad_2]
Source link