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Typhoon Kalmaegi shuts down morning trade in Hong Kong Typhoon Kalmaegi sweeps past Hong Kong
(about 1 hour later)
The Hong Kong Exchange has delayed trading in both securities and derivatives markets due to a typhoon. Typhoon Kalmaegi has swept past Hong Kong, closing schools and disrupting flights as strong winds pounded the territory.
The Hong Kong Observatory raised a number-eight warning on a scale of one to 10 on Monday. The observatory will re-evaluate the situation before 12:00 local time (04:00 GMT) on Tuesday. More than 500 flights were delayed as the storm passed by on its way to China's Hainan Island.
Trading on the exchange will remain suspended if the level eight warning is still up then. Morning trading was cancelled on the Hong Kong stock exchange, while schools and businesses were ordered to close until the storm warning was lowered.
At level eight Typhoon Kalmaegi has a wind speed of up to 63 km per hour. The storm blew in from the Philippines, where it cut power and soaked farmland.
The typhoon is due to head towards Hainan island, in southern China. At least six people are reported to have died when a ferry sank in the central Philippines on Saturday evening, after stalling in bad weather.
Schools, businesses and non-essential government services will remain closed while the storm eight signal is still active. In Manila, a ferry capsized in rough seas but all 15 crew members were rescued.
Flights in and out of Hong Kong have been delayed, affecting thousands of passengers. But Philippine officials said the storm largely avoided heavily populated areas.
Local meteorologists have warned Hong Kong residents to expect between four and seven typhoons this year. In Hong Kong, a level eight cyclone warning was in place on Monday evening, on a 10-point scale.
Twenty-five people needed hospital treatment for storm-related injuries, AFP news agency reported, citing Hong Kong's Hospital Authority.
Before midday on Tuesday the warning was down to three, however, as the storm headed to Hainan.
"Although Kalmaegi is moving away, occasional gales will still affect the south-western part and high ground of Hong Kong," the Hong Kong Observatory said.
In China, dozens of flights were cancelled as the typhoon approached, including all flights out of Haikou, the capital of Hainan province, Xinhua news agency said.