Typhoon Hato could cause HK$8 billion in losses after No 10 signal storm brought Hong Kong to standstill
Industries across city expected to have taken a major hit as storm brought businesses, stock market and air travel to a standstill
A paralysed stock market, business closures, flight cancellations and the suspension of public transport were some of the disruptions caused by Typhoon Hato on Wednesday as market analysts put the economic cost to the city at anywhere between HK$4 billion and HK$8 billion.
A typhoon signal No 10 – the highest in Hong Kong’s storm warning system – was issued in the morning, and later downgraded throughout the day.
It was only the 15th No 10 signal since 1946, with the last being Typhoon Vicente in July 2012.
Typhoon Hato causes delayed flights and heavy flooding in Hong Kong
With the typhoon signals of No 8 and above in place, most shops throughout the city remained closed, but some others braved the extreme conditions.
At a shop on Hennessy Road in the Causeway Bay tourist district, bakery assistant Ah Mei stared at several freshly baked bread rolls, untouched on shelves, because the shop had received few customers despite staying open for business.
“There has hardly been anybody today, ” Ah-Mei said. The shop had opened at 8.30am with its bread baked overnight and arriving at the outlet as usual in the morning despite the typhoon warning.
Meanwhile a nearby congee shop on Canal Road West had also opened for business because its staff came to work too early in the morning and were stuck when the weather took a turn for the worse.