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Hong Kong Scraps Afternoon Trading as Storm Nalgae Draws Near

  • City raised No. 8 typhoon signal, the third-highest warning
  • Tropical cyclone coincides with top-level financial summit
The Global Financial Leaders’ Investment Summit in Hong Kong, on Nov. 2.
The Global Financial Leaders’ Investment Summit in Hong Kong, on Nov. 2.Photographer: Paul Yeung/Bloomberg
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Hong Kong closed its $4 trillion stock market early as severe tropical storm Nalgae moved closer on a day when the city hosted a top-level summit for global bankers.

Hong Kong Exchanges & Clearing Ltd. scrapped afternoon trading of stocks and derivatives after the government raised the No. 8 storm signal — its third-highest warning. The halt came as the Hang Seng Index had its best two-day gain in seven months. Schools were also suspended and workers were advised to go home.