On September 1, 2023, in Hong Kong, China, when super typhoon “Sarah” issued storm signal No. 8, sandbags were placed near the waterfront of a residential area.
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Hong Kong will no longer close its stock market during severe weather conditions, according to Hong Kong’s Financial Times. Bloomberg reports People familiar with the matter were quoted as saying.
According to reports, the planned move could begin as soon as September, meaning Hong Kong’s US$4.2 trillion market (32.8 trillion Hong Kong dollars) Trading will not stop even if there are typhoons and heavy rains.
this The Hong Kong exchange usually suspends trading When a typhoon signal or so-called “black rainstorm warning” is issued.
Nicolas Aguzin, the former chief executive of Hong Kong Exchanges and Clearing, told CNBC in 2022 that the exchange was reviewing the agreement.
according to Hong Kong ObservatoryIn 2023, there were 11 tropical cyclones reaching typhoon intensity or above, which is lower than the 60-year average from 1961 to 2020 (about 15).
Hong Kong Exchanges and Clearing is expected to announce the proposed framework in the coming weeks, according to people who spoke to Bloomberg. They said the plan is still being finalized and could be subject to last-minute changes.
A government spokesman told Bloomberg the proposal would promote continued trade and “strengthen Hong Kong’s position as a two-way gateway to international and mainland markets, and bolster our competitiveness as an international financial centre”.
“Our aim remains to publish relevant implementation details and timetable by the middle of this year.”
According to the report, senior government officials have worked hard to push for the early implementation of the plan, and a three-month preparation period is considered feasible, people familiar with the matter said.
However, the three-month preparation period means the exchange will likely implement the plan in the middle of typhoon season.
at present, Hong Kong exchange cancels morning trading All-day trading will be canceled if extreme weather conditions persist past 9 a.m. Hong Kong time and before 11 a.m. Hong Kong time if extreme weather conditions continue past 12 noon.
Pacific typhoon season According to climate database World Info, less severe storms usually begin in April and last until November, with the most severe typhoons usually occurring in August and September.
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