Hong Kong braces for super typhoon as Saola may disrupt trading

A boat (centre) is seen in a typhoon shelter in Hong Kong. - AFP

HONG KONG (Bloomberg): Hong Kong warned it may effectively shut down the city, including its US$5 trillion stock market, on Friday (Sept 1) because of Super Typhoon Saola, which is approaching the financial hub after pummeling through northern Philippines.

The local weather agency said it will raise the storm signal to No 3, the second lowest level, by 5pm on Thursday and may elevate the alert by one level on Friday to No. 8 - the threshold at which schools close and most public transportation is stopped.