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Transport

Hong Kong stops trading for typhoon

Typhoon Ma-on is expected to cause wide-spread chaos across the South China Sea

Trading in financial markets was stopped in Hong Kong as a storm warning was issued in preparation for a direct hit from a powerful typhoon.

Typhoon Ma-on was packing winds of up to 110 kms per hour (62 miles) late Wednesday night, and lay about 300 kms off China's southern coast.

It is expected to wreak havoc in the area, with air and ocean shipments, trade, and industry set to be disrupted.

On Thursday, China's National Meteorological Center said Typhoon Ma-on was moving northwest and would reach the Guangdong coast around noon.

The port of Shenzhen, in southeastern China, has suspended entry of full and empty containers. No reopening date was announced.

Container movements are expected to be delayed for two to three days, causing traffic jams at the terminal and container yard until Friday.

Shenzhen airport has also experienced delays or cancellations.

At Hong Kong Exchanges & Clearing, stocks and derivatives trading were delayed in the morning session but resumed later in the day with the typhoon expected to weaken as it makes landfall in southern China later on Thursday.

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