The Hong Kong exchange has, for decades, halted trade during severe weather conditions, such as typhoons. Currently, trading on the exchange is halted if the Hong Kong Observatory posts a typhoon signal no. 8 and above.
In a move to preserve its status as a financial hub, and compete with Shanghai and Shenzen, Hong Kong Chief Executive John Lee announced yesterday that it’ll no longer close for weather.
- “At the moment, trading is mostly conducted through electronic means, there’s no reason why Hong Kong is the exception when it comes to maintaining trading under extreme weather conditions,”
Moody’s estimates that the Hong Kong market has been shut 11 times since 2018 as a result of tropical cyclones and severe storms.
This article was written by Eamonn Sheridan at www.forexlive.com.
Source link
