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Hong Kong cancels morning trading in stocks, derivatives for Typhoon Koinu, black rainstorm alert
- Bourse operator HKEX halted morning trading on Monday, after the Hong Kong Observatory issued its T8 typhoon alert overnight
- Observatory says No 8 warning expected to be downgraded at 11.40am as storm weakens, moves towards coast of southern Guangdong province
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Hong Kong cancelled the trading of stocks and derivatives for the morning session after the local Observatory issued its T8 and black rainstorm warning for Typhoon Koinu, its signal for a severe weather condition.
The northbound link of the Stock Connect scheme, which enables foreign investors to buy mainland Chinese equities via Hong Kong, will also be similarly affected, Hong Kong Exchanges and Clearing, the city’s bourse operator, said in a statement.
The T8 warning was still in force at 9am local time, which compels the stock exchange to delay trading under its extreme weather arrangements.
Trading is likely to resume in the afternoon. The Observatory earlier said Koinu was expected to be downgraded to a category T3 storm before noon.
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