A man holds an umbrella against the strong winds along the waterfront of Victoria Harbour in Hong Kong on Aug. 18, 2020. The Hong Kong Observatory issued the Gale or Storm Signal Number Eight on Tuesday as Tropical Storm Higos edged closer to the city. - AP
HONG KONG (Bloomberg): Hong Kong’s strongest typhoon of the year moved away from the city after prompting the cancellation of morning trading in the city’s US$5.8 trillion local stock market, shutting many businesses and disrupting public transportation.
The No. 8 storm signal, the third-highest on the Hong Kong Observatory’s scale, will be lowered to No. 3 between 11am and noon, it said in a statement on its website. The lower signal will allow businesses to reopen and stock trading to resume in the afternoon, according to exchange rules.
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