Hong Kong Shuts Stock Market, Schools as Super Typhoon Nears

The local observatory issued the No. 8 storm signal, its third-highest warning, at 2:40 a.m. Friday and plans to keep it at that level for most of the day. That means Hong Kong’s $5 trillion stock market will be shut, schools won’t open and most public transportation will be grounded. Many flights will be canceled.

“This can be a very destructive typhoon,” the chief secretary said Thursday, flanked by heads of various government departments. “We hope to minimize the damage.” Hong Kong is typically affected by about six typhoons annually, usually from June to October, but only a fraction of those result in market or school closures. The last time was in July because of typhoon Talim.

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