Hong Kong cancels morning trading, shuts schools in wake of typhoon Kompasu

A pedestrian walks down an empty street in Central business district on on Oct 13, 2021, as Hong Kong battened down for the second time in less than a week as Tropical Cyclone Kompasu prompted forecasters to raise their alert level and usher in mandatory safety measures. - AFP

HONG KONG (Bloomberg): Hong Kong suspended schools and the city’s US$6.3 trillion stock market cancelled morning trading as strong winds and rain from typhoon Kompasu slashed the financial hub.

Storm warning signal No. 8, the third-highest on its scale, will remain in force before noon, according to the Hong Kong Observatory. Kompasu, which was about 370 kilometers (230 miles) south-southwest of the city at 7am local time, is forecast to move west at about 25 kilometers an hour toward China’s Hainan Island, it said on its website.