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HK delays market trading, shuts schools on typhoon Kompasu

Storm warning signal No.8, the third-highest on its scale, will remain in force before noon, according to the Hong Kong Observatory. (DotDotNews)

Hong Kong suspended schools and the city’s stock exchange delayed morning trading as strong winds and rain from typhoon Kompasu slashed the financial hub.

Storm warning signal No.8, the third-highest on its scale, will remain in force before noon, according to the Hong Kong Observatory. Kompasu, which was about 370 kilometers south-southwest of the city at 9 am local time, is forecast to move west at about 25 kilometers an hour across the northern part of the South China Sea towards Hainan Island.

"Rainbands associated with Kompasu continue to affect the coast of Guangdong. Gales are prevailing over parts of the territory," the forecaster said in a weather bulletin at 8:45 am.

" As local winds will turn to the east gradually in the morning, places that have been sheltered before will become more exposed to the high winds," it warned, adding that the Gale or Storm Signal No 8 will remain in force before noon.

It is likely that securities trading, including the Hong Kong-mainland stock connect and derivatives market, will be affected for the whole of Wednesday. Under exchange rules, the morning trading session will be canceled if signal 8 or above is still in place after 9 am. If the weather warning isn’t lowered before noon, the entire day’s trading will be abandoned.

Kompasu halted after-hours trading on the Hong Kong stock exchange Tuesday after the financial hub raised the warning signal to No 8, which means winds could reach at least 63 kilometers per hour, from No 3 at 5:20 pm.

Six people were injured during the typhoon period, including one who died later, the government said in a statement on its website.

When tropical cyclone warning signal No 8 or above is in force, various public services departments, including the Births, Deaths, and Marriage Registries, will be temporarily suspended.

Community vaccination centers, vaccination stations at hospitals, and some sample collection points for COVID-19 testing will remain closed, the government said.

(Source: China Daily)

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