Close Menu

    Get the latest news around the globe

    Editor's Pick

    Meta stocks drop after company unveils spending plans

    Tesla launches cheaper Model S & X versions in US amid raising competition

    Netflix increases subscription plan prices

    Facebook X (Twitter) Instagram
    Facebook X (Twitter) LinkedIn Instagram
    Britain HeraldBritain Herald
    Subscribe
    • Home
    • World Roundup
    • Business
    • Tech World
    • Entertainment & Events
    • Curious
    • More…
      • Spotlight
      • Knowledge
      • Lifestyle
      • Awareness
      • Women World
      • Sports
      • Travel
      • Notable
      • Contact Us
    Britain HeraldBritain Herald
    Home » Hong Kong to end stock market closures during typhoons
    Business

    Hong Kong to end stock market closures during typhoons

    City leader John Lee says the move will boost the competitiveness of the Asian financial hub.
    News DeskBy News DeskJune 18, 2024
    Facebook Twitter LinkedIn WhatsApp
    Hong Kong to end stock market closures during typhoons
    Image: Soon Sumia Louam | Wikimedia Commons

    Hong Kong: The stock exchange in Hong Kong will no longer be closed during typhoons and other severe weather, as it has done for decades.

    According to John Lee, the chief executive of Hong Kong, the financial industry overwhelmingly backed the move, which would align the financial centre with other markets, particularly those in mainland China.

    “Shenzhen and Shanghai are now trading in bad weather. There is no reason why Hong Kong, as an international financial centre, should not follow suit,” Lee told reporters at a news conference on Tuesday.

    “Non-stop trading in inclement weather can strengthen the competitiveness of the Hong Kong Exchange,” he added.

    Evergrande faces liquidation after debt talks collapse
    Hong Kong | Image: Shreyaan Vashishtha @ Twitter

    Typhoons frequently hit Hong Kong between June and October, but officials have cautioned locals to expect stronger and more unpredictable storms in the future as a result of climate change.

    For the 16th time since World War II, Hong Kong authorities issued the city’s highest weather alert, T10, for Super Typhoon Saola last year.

    The Hong Kong Observatory notes that the 11 typhoons or stronger that occurred last year were less than the average of roughly 15 between 1961 and 2020.

    Hong Kong
    Image: Mathieu Stern @ Unsplash

    In the wake of China’s sluggish economic growth and crackdowns on dissent, Hong Kong’s stock market has seen severe losses in recent years. As part of its handover from Britain, the semi-autonomous territory was granted privileges and freedoms not present on the Chinese mainland.

    2023 saw a 13.8 percent decrease in the benchmark Hang Seng index, marking the fourth year in a row of declines.

    The index has decreased by about 38% since 2019, despite gains in the US, Japanese, and Indian stock markets. Data from the World Federation of Exchanges shows that in January, India’s stock market surpassed Hong Kong to take the fourth place as the world’s largest equity market.

    WORLD ROUNDUP | YouTube blocks Hong Kong protest anthem following court order

    STAR OF SECTOR 2025
    China Typhoons Hong Kong Hong Kong Stock Market Typhoons Hit Hong Kong
    Share. Facebook Twitter LinkedIn WhatsApp
    Avatar
    News Desk

    The news/article published above has been sourced, compiled, and corroborated by a member of the Britain Herald News Desk Team. If you have any queries or complaints about the published material, please get in touch with us at BritainHerald@Gmail.Com

    Newly Updated

    Devastating glacier collapse destroys Swiss village of Blatten

    May 29, 2025

    Manitoba declares emergency as wildfires force mass evacuation

    May 29, 2025

    Nvidia reports rising revenue as global AI demand surges

    May 29, 2025
    STAR OF SECTOR 2025

    Business

    Nvidia reports rising revenue as global AI demand surges

    Business May 29, 2025

    United States: Nvidia has reported a significant boost in its first-quarter earnings, with revenue surging…

    Volvo cars to cut 3,000 jobs in major restructuring effort

    May 27, 2025

    Trump demands US-made iPhones; Warns of 25% tariff

    May 24, 2025

    Nike to raise prices on select items citing seasonal planning

    May 22, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • Instagram

    Curious

    Massive ice calving at Perito Moreno Glacier sparks concern

    May 16, 2025

    Glowing Spiral appears in night sky; Linked to SpaceX Falcon 9 Rocket

    March 25, 2025

    Once dubbed ‘Ugliest’; Blobfish triumphs as NZ ‘Fish of the Year’

    March 19, 2025

    Giant Iceberg A23a runs aground near South Georgia; Easing wildlife fears

    March 5, 2025

    Get the latest news around the globe

    Knowledge

    Clownfish shrinks to survive marine heatwaves, study reveals

    Knowledge May 22, 2025

    England: Clownfish, famously known from the film Finding Nemo, are shrinking in size to survive…

    Kashmir conflict: History of disputes, wars, and unresolved tensions

    May 9, 2025

    Snakebite survivor’s blood sparks universal antivenom discovery

    May 3, 2025

    ESA’s Biomass satellite set for launch to map forest carbon

    April 29, 2025
    18-EA-387-TryEngineeringSummerInst_BannerAd_300x250_Robot
    About Us
    About Us

    Britain Herald is a global news brand that plays a significant role in educating and informing the masses with informative content, the latest updates, and current affairs across the World.

    Operated and Managed by WellMade Network, the portal is a sister concern of GCC Business News and Emirati Times. For inquiries about Media Partnerships, Investment and other opportunities in line with our Editorial Policy, please contact us at;

    Email Us: News@BritainHerald.com
    Whatsapp: +971 5060 12456

    We Have

    Devastating glacier collapse destroys Swiss village of Blatten

    May 29, 2025

    Manitoba declares emergency as wildfires force mass evacuation

    May 29, 2025

    Nvidia reports rising revenue as global AI demand surges

    May 29, 2025

    ‘Judicial Coup’ or Legal Check? US court blocks Trump’s tariffs

    May 29, 2025
    Facebook X (Twitter) LinkedIn Instagram
    • Home
    • Business
    • Tech World
    • Awareness
    • Contact Us
    Privacy & Cookies Policy | Terms & Conditions
    © 2002 BritainHerald.com, An Initiative by WellMade Network

    Type above and press Enter to search. Press Esc to cancel.