Hong Kong halts full-day stock market trading for the second time this month as severe rainstorm brings city to standstill

Bourse operator HKEX halted trading on Friday, after the Hong Kong Observatory issued the Black Rainstorm warning overnight

Markets were also halted on September 1 after the Observatory raised the No. 8 signal and later the highest No. 10, for Typhoon Saola

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Flooding in Chai Wan on Hong Kong Island, after the Observatory issued its Black Rainstorm Warning on 8 September 2023. Photo: Dickson Lee

Published: 9:16am, 8 Sep 2023Updated: 12:35pm, 8 Sep 2023

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Hong Kong halted the trading of stocks and derivatives for the second time this month, after the local Observatory issued the Black Rainstorm warning, its signal for the most severe weather conditions.

The northbound link of the Stock Connect, which enables foreign investors to buy mainland Chinese equities, will also be similarly affected, bourse operator Hong Kong Exchanges and Clearing said in a statement.

The Black Rainstorm warning was still in force at noon local time, which compels the market to shut for the entire day under the exchange’s extreme weather arrangements.

Intense gusts reaching 80km per hour or stronger may continue to affect Hong Kong, the Observatory said in the latest update on its website. The conditions could last until 6pm, the government said separately on Friday, after suspending schools. John Lee Ka-chiu, the city’s chief executive, is scheduled to speak to the media at 2pm.