Typhoon Haima made landfall in China on Friday after it brushed past Hong Kong, forcing the city’s stock exchange to cancel trading for the day and airlines to suspend flights.
The Hong Kong Observatory said it will consider lowering Storm Signal No. 8, its third-highest warning, to No. 3 between 5pm (4pm Thailand time) and 7pm.
The weather service warned of "widespread heavy rain in a few hours" for the financial centre. As of 4pm, Typhoon Haima was centred about 140 kilometres northeast of Hong Kong, after making landfall in the vicinity of Shanwei of the Guangdong province.
Hong Kong Exchanges & Clearing Ltd scrapped trading as signal No. 8 was in force after noon. Authorities shut schools, and most of the city’s ferry and bus services have been suspended. Trains continue to operate with an adjusted schedule, MTR Corp said.
It’s the second time this year the Hong Kong markets have closed because of weather disruption. Business was halted on Aug 2 when Typhoon Nida hit the city.
Some brokerages have contingency plans to ensure they can trade other Asia Pacific markets from Hong Kong, working from home or staying in hotels close to their offices. Some headed to the office by trains and taxis on Friday.
”We are all in the office and business as usual trading all regional market,” said Rafi Mohideen, the Hong Kong-based head of Asian trading at Instinet Pacific Services Ltd, a unit of Nomura Holdings Inc. ”We are a regionalised trading desk, but if it gets worse we have other regional offices that can help.”
Fallen trees
Typhoon Haima has done limited damage in Hong Kong so far as the tropical cyclone weakened overnight before edging towards the coast of Guangdong. It earlier killed at least eight people in Philippines, with more than 90,000 evacuated, as the strongest typhoon to hit the country this year.
Hong Kong government received 156 reports of fallen trees and no flooding or landslide reports. One fallen tree partially blocked a highway in Causeway Bay, and another fell onto a passenger car in Sai Kung, according to Hong Kong Cable Television. Scaffolding was seen hanging from a side of a building in Tsuen Wan. A few were swimming at a beach in the morning despite the Observatory’s call to stay away from the sea.
About 170 people took refuge at the 22 government-run temporary shelters. Twelve people have sought medical treatment at public hospitals, the Hospital Authority said.
The Hong Kong Airport Authority said a total of 742 passenger flights have been canceled or delayed as of 2pm. Cathay Pacific Airways and its Dragonair unit said flights from 11am to 10 pm would be "significantly disrupted." Hong Kong Airlines suspended all flights before 10pm.