HONG KONG, CHINA – OCTOBER 13: A taxi goes across a vacant crossway in the Central downtown throughout a No. 8 Tornado signal increased for Hurricane Kompasu, the 18th tropical storm of this year, on October 13, 2021 in Hong Kong, China.
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Hong Kong’s economic markets will certainly proceed trading also throughout tropical storms and severe climate beginning with Sept. 23, President John Lee introduced Tuesday.
Talking at his weekly press conference, Lee stated there was wide assistance to permit trading in severe climate, according to various other cities.
” Hong Kong is a global economic facility and there is no factor for us not to straighten with worldwide economic criteria,” Lee stated.
He kept in mind that in assessments performed by the Hong Kong Exchange, over 90% of brokerage firm companies and safety and securities companies sustained the proposition.
The choice comes as Hong Kong supports for the height of the typhoon season â $ ” which mostly takes place in between August to September, according to climatological data source Worlddata.info.
This places an end to the city’s years lengthy method of closing the city’s 32.9 trillion ($ 4.2 billion) Hong Kong buck market throughout extreme rainfall or tropical storms. Presently, the Hong Kong exchange halts trading when a tropical storm signal or a supposed “black rainstorm caution” is provided.
According to the Hong Kong observatory, there were 11 cyclones in 2023 that got to tropical storm strength or over â $” that’s less than the 60-year standard of around 15 from 1961 to 2020.
Currently, the Hong Kong exchange cancels the morning session if severe climate condition continue past 9 a.m. and prior to 11 a.m. neighborhood time. A complete day’s trading will certainly be terminated if severe problems prolong past 12 p.m.
