Its Raining Day: ‘Black rainstorm’ warning suspends Hong Kong trading

A woman carries an umbrella as she crosses a street during a rain storm in Hong Kong.

The Hong Kong Stock Exchange cancelled its morning trading session on Monday due to extreme weather.

The decision by Hong Kong Exchanges and Clearing comes after the government issued a so-called “black rainstorm” warning.

Hong Kong has three levels of rainstorm warning, with black being the highest after amber and red.

It is the city’s first black rainstorm warning his year, with at least 70mm of rain forecast for several districts.

Trading of both securities and derivatives markets were cancelled in the Asian financial hub.

The Hongkong Stock Exchange said that if the black rainstorm warning is cancelled before midday Hong Kong time trading will resume in the afternoon. If not, trading will also be suspended for the afternoon session.

The Hongkong Observatory warned people that “heavy rain will bring flash floods, and flooding is occurring or is expected to occur in watercourses.”

Landslides are also expected.

Schools and Covid-19 vaccination services were also suspended due to safety concerns.

Islands near the city were hit even harder, with more than 150mm of rain reported to have fallen on Lantau and Lamma by 9.45am local time.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s