By Dominic Lau
October 13, 2021, 7:18 AM GMT+8
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 (230 miles) south-southwest of the city at 7 a.m. local time, is forecast to move west at about 25 kilometers an hour toward China’s Hainan Island, it said on its website.
It is likely that securities trading, including the Hong Kong-China 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 a.m. 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 p.m.