The government has raised the number 8 storm signal, schools have been suspended and workers have been advised to go home
Hong Kong closed its $4 trillion stock market early as severe tropical storm Nalgae moved closer on a day when the city hosted a top-level summit for global bankers. Picture: BLOOMBERG
Hong Kong Exchanges & Clearing scrapped afternoon trading of stocks and derivatives after the government raised the number 8 storm signal — its third-highest warning. The halt came as the Hang Seng index had its best two-day gain in seven months. Schools were also suspended and workers were advised to go home.
Nalgae, which means “wings” in Korean, will edge closer to Hong Kong on Wednesday evening than previously forecast to skirt within 100km of the city, the local observatory said. At 4pm local time, Nalgae was centred about 140km southeast of the city and was forecast to move northwest at about 10km/h, it said, adding that the number 8 signal will remain in force before 6pm.
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