(Bloomberg) -- Hong Kong was set to stay closed Monday morning, with stock market trading halted and schools suspended, as Typhoon Koinu brought storm-force ...
-- Hong Kong was set to stay closed Monday morning, with stock market trading halted and schools suspended, as Typhoon Koinu brought storm-force winds and torrential rain to the finance hub.The Hong Kong Observatory said the No. 8 storm warning — the third-highest — would remain in place until 11:40 a.m. as winds weaken. That alert replaced the more serious No. 9 signal, which lasted for almost five hours Sunday night. The weather agency also issued its highest black rainstorm warning at 4 a.m.
Trading on the city’s $4.8 trillion stock market will resume trading at 2 p.m. if the No. 8 signal is lowered between 11:30 a.m. and midday, under the exchange operator’s rules. That’s unless the black rainstorm warning remains in place. The disruption comes as mainland China’s stock markets reopen for the first time this month after the Golden Week holidays.
Hundreds of passengers at the city’s airport were stranded on Sunday night after the raising of the No. 9 signal caused rail operator MTR Corp. to halt train services between the airport and the city. The service resumed in limited fashion after midnight. Under the No. 8 warning, most public transport is suspended and workers typically stay home. The black rainstorm warning has a similar impact.
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