HKEX closed as Hong Kong braces for super typhoon
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The news: The Hong Kong Stock Exchange will be closed today as Super Typhoon Saola rolls towards Hong Kong and China, bringing winds of over 200km/h.
The numbers: Saola is expected to make landfall somewhere from Huilai County in Guangdong to Hong Kong between Friday afternoon and evening, and could be one of the five strongest typhoons to hit the area since 1949, Reuters reports.
The context: Hong Kong Observatory's storm warning system reached level 8 at at 2:40am local time on Friday, which requires the temporary closure of the stock exchange and local schools, and it will ground most public transport. An observatory update said the level-8 warning would be in effect for most of the day and could be lifted higher this evening.
The sources: Hong Kong Observatory Warning, Reuters
