Hong Kong Stock Exchange: Financial markets will continue to operate fully despite the impact of the typhoon.
13/11/2024
GMT Eight
According to the Hong Kong Observatory news on November 13, the Observatory will hoist the Strong Wind Signal, No. 8 or Storm Signal tonight at 11:10 pm, and it will be maintained at least until 10 am tomorrow morning. In response, HKEX (00388) stated that the financial market will continue to operate normally under the influence of the typhoon.
On September 23, the Hong Kong Stock Exchange officially implemented its arrangements to maintain market operations in adverse weather conditions, marking the end of the tradition of closing market trading during typhoons and heavy rain in Hong Kong. This historic change aims to enhance Hong Kong's competitiveness as an international financial center and ensure that the market operates as usual under any weather conditions.
This reform by the Hong Kong Stock Exchange was completed with the support of the Hong Kong Special Administrative Region government and regulatory agencies. Hong Kong Chief Executive John Lee Ka-chiu announced the decision by the Hong Kong Stock Exchange to continue trading in adverse weather back in June this year, in order to maintain market continuity and investors' risk management capabilities.
According to the Hong Kong Stock Exchange's previous announcement, if the Hong Kong Observatory issues a No. 8 or above typhoon signal, a Black Rainstorm Warning is issued, or the Hong Kong government declares an "extreme situation", all products in the securities and derivative markets will continue trading services and operations. This arrangement also applies to trading days for the Shanghai-Hong Kong Stock Connect, ensuring that the connectivity between the Mainland and Hong Kong markets is not affected.
The Hong Kong Stock Exchange stated that all exchange participants must continue to provide trading-related services as on regular trading days in adverse weather conditions. To ensure personal safety, exchange participants should adopt remote working arrangements and provide online services, while physical business premises should not provide services to the public.
Analysts point out that the ability for the market to operate normally around the clock is one of the key attractions of Hong Kong as an international financial center, which helps attract more international investors and funds.