Hong Kong to Allow Trading During Typhoons From September
By Amanda Lee and Kimberley Kao
Hong Kong's financial markets will continue trading during typhoons and extreme weather, with changes effective from Sept. 23, Chief Executive John Lee said Tuesday.
Speaking at his weekly press conference, Lee said there was support to allow trading in extreme weather, aligned with other cities like Shenzhen and Shanghai.
"Hong Kong is an international financial center and there is no reason for us not to align with international standards," Lee said.
The Hong Kong Exchange conducted consultations, with over 90% of brokerage and securities firms supporting the proposal, he said.
"Maintaining trading under severe weather conditions could bolster Hong Kong's exchanges' competitiveness," Lee said.
This would end Hong Kong's decades-long standing practice of halting trading during severe rain and typhoons. Current severe-weather arrangements for the Hong Kong Exchange include halting trading when a typhoon signal or "black rainstorm warning" is issued by the Hong Kong Observatory.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
June 18, 2024 01:08 ET (05:08 GMT)
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