Hong Kong Stock Exchange Cancels Friday Trading Due to Bad Weather — 2nd Update

By P.R. Venkat

The Hong Kong Stock Exchange canceled all trading Friday after the city's meteorological authority extended an extreme weather alert warning.

Trading in securities and derivatives markets, as well as after-hours trading sessions have all been cancelled, Hong Kong Exchanges & Clearing said in a statement around mid-day.

"No securities clearing and settlement services will be provided for the day. Stock Connect Northbound trading is also suspended for the day," it said.

The announcement came after the morning session was cancelled following the Hong Kong Observatory's issuance of a "black" rainstorm warning. A black-level alert means heavy rain is falling and likely expected to continue, with flooding either occurring or expected to happen, according to the observatory's website.

The weather forecaster's website also warns of potential landslips, flash floods and continued thunderstorms, advising people to take shelter.

"Squally thunderstorms are expected to occur over Hong Kong," it had said early on Friday, with "intense gusts reaching 80 kilometers per hour or above."

Trading in the afternoon could have been resumed if the weather warning had been lifted.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

September 08, 2023 00:47 ET (04:47 GMT)

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