HONG Kong delayed morning trading of the city's US$5.2 trillion stock market because of typhoon Talim.
The pre-opening session of Hong Kong securities market has been cancelled and the morning session will be delayed, according to a Hong Kong Exchanges & Clearings ( HKEX ) statement. The China Connect Northbound trading will also be delayed.
The city's observatory hoisted the No 8 signal - its third-highest warning on a scale of five - at 12.40 am on Monday (Jul 17), and it will remain in force before noon, it said in a statement.
The financial hub scraps morning trading of stocks, bonds and derivatives if Signal No 8 or above is in force at 9.00 am and cancels afternoon session if the signal isn't lowered to No 3 or below by noon. Also, schools are cancelled, businesses are urged to exercise caution and public transportation may be affected.
Typhoon Talim will skirt within 300 kilometres to the south-southwest of Hong Kong this morning, according to the observatory.
The city will explore arrangements to allow stock trading under severe weather, Financial Secretary Paul Chan said earlier this year. HKEX will study a series of proposals on the optimisation of its trading mechanism, including "arrangements for maintaining operation for the market under inclement weathers", Chan said in his budget speech in February.

Sumber : businesstimes.com.sg