Saola Weakens After Bringing ‘Destructive’ Winds to Hong Kong
- Financial hub may raise No. 8 storm signal to higher level
- Typhoon may be strongest to affect Hong Kong in five years
Glass doors with tapes at a mall ahead of the arrival of Typhoon Saola in Hong Kong on Aug. 31.
Photographer: Isaac Lawrence/AFP/Getty Images
Hong Kong is closing down its $5 trillion stock market along with the city as the Asian financial hub prepares for a possible direct hit by Super Typhoon Saola, which could be the strongest storm to hit the city in at least five years.
The city issued a No. 8 storm warning at 2:40 a.m. on Friday with its local observatory saying the third-highest typhoon warning level will remain in force for most of the day and it will consider the need to raise the tropical cyclone warning to higher signals.
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
LEARN MORE
Up Next
Saola Weakens After Bringing ‘Destructive’ Winds to Hong Kong