Hong Kong Stocks to Resume Trade as Typhoon Threat Wanes
2022.08.25 06:18
By Ambar Warrick
Investing.com– The Stock Exchange of Hong Kong said on Thursday that trading in the securities market will resume in the afternoon after the threat from typhoon Ma-on to the city was downgraded.
Local exchange operator Hong Kong Exchange and Clearing Ltd (HK:0388) (HKEX) said in an announcement that the securities market will resume trade from 13:00 Hong Kong time (01:00 ET), while trading of other derivative products will resume at 11:30 AM HKT.
The announcement comes just a few hours after the HKEX announced an indefinite delay in the morning session, due to extreme weather conditions.
But with the lowering of the threat posed by Ma-on to the city, the HKEX said trade can recommence from the afternoon.
Wednesday’s after-hours session was also canceled by the HKEX, due to extreme weather.
Thursday’s delayed open affects the trading debut of China Tourism Group Duty Free Corp, Hong Kong’s biggest listing this year, according to Bloomberg.
Hong Kong had issued its third-highest typhoon warning over the storm on Wednesday, with the storm reaching its closest point to the city earlier on Thursday. It now appears to be moving away from the region, according to the Hong Kong observatory.
The observatory also said it will consider issuing a standby signal, or canceling all tropical cyclone warning signals. But it warned that the city will still be subject to gale force winds in the near-term.
The Hong Kong government suspended schools and other public services on Wednesday and Thursday.
Certain Chinese cities had also issued warnings over the storm.
