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‘Black rainstorm’ warning delays Hong Kong trading

'Black rainstorm' warning delays 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.

Trading was due to start at 1:30pm local time after the warning was cancelled.

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

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

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

The Hong Kong Stock Exchange said that trading would resume for the afternoon session after the black rainstorm warning was replaced by a red, then amber warning as the extreme weather conditions eased.

The Hong Kong Observatory warned that “heavy rain will bring flash floods. People should stay away from watercourse”

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.

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Julia Mangels

Julia has handled various businesses throughout her career and has a deep domain knowledge. She founded Stock Market Pioneer in an attempt to bring the latest news to its readers. She is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

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