Hong Kong's Observatory issued its highest-level black rainstorm warning on Thursday, triggering an automatic suspension of stock market trading and business operations across the city. The warning, which signals rainfall exceeding 70 millimeters per hour, forced schools to close and disrupted transportation networks.
The Hong Kong Observatory issued a black rainstorm warning Thursday, suspending stock trading and business operations as rainfall exceeded 70 millimeters per hour.
"The black rainstorm warning has been issued, indicating that heavy rain exceeding 70 millimeters per hour has fallen or is expected to fall," the Hong Kong Observatory said.
The warning, the highest in Hong Kong's three-tier system, triggered automatic suspension of the morning trading session on the Hong Kong Stock Exchange. Schools across the territory closed for the day, and public transportation services faced disruptions as flooding affected multiple districts. The warning was later lowered to amber, according to local media reports.
The suspension halts trading in Hong Kong-listed stocks including Tencent Holdings (0700.HK) and Alibaba Group (9988.HK), potentially delaying settlements and reducing trading volumes. The exchange will resume trading if the warning is lowered before the afternoon session at 1 p.m. HKT.
The Hong Kong Monetary Authority's base rate remained at 4 percent following the US Federal Reserve's decision to hold rates steady, though the rainstorm disrupted normal banking operations across the territory.
Hong Kong's black rainstorm warning system is the most severe tier of the city's three-level weather alert protocol, activated when hourly rainfall surpasses 70 millimeters. The warning typically suspends all non-essential government services and business operations until downgraded.
This article is for informational purposes only and does not constitute investment advice.
