Hong Kong to keep stock market open during typhoons
Al Jazeera
City leader John Lee says move will strengthen competitiveness of the Asian financial hub.
Hong Kong is set to end its decades-long practice of shutting the stock market during typhoons and extreme weather.
Hong Kong Chief Executive John Lee said the change was widely supported by the financial sector and would bring the financial hub in line with other markets, including mainland China.
“Shenzhen and Shanghai are now trading in bad weather. There is no reason why Hong Kong, as an international financial centre, should not follow suit,” Lee told reporters at a news conference on Tuesday.
“Non-stop trading in inclement weather can strengthen the competitiveness of the Hong Kong Exchange,” he added.
Hong Kong regularly experiences typhoons between June and October, but officials have warned residents to expect more powerful and unpredictable storms in the future due to climate change.
