Hong Kong Exchanges delays open on Monday morning due to black rainstorm

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Reuters 27 June, 2021 - 08:35pm 26 views

What is a black rainstorm?

A black rainstorm warning is the highest alert of three levels of rainstorm warnings in Hong Kong after red and amber. ... The black rainstorm, which remained in effect for less than three hours, was downgraded to a lower level of warning of red at 11.05am before being replaced with the lowest level of amber. The IndependentHong Kong 'black rainstorm' warning sees classes, vaccinations and trading suspended

If the warning is cancelled at or before midday, major products of the exchange's securities and derivatives markets, including Stock Connect trading, will resume trading in the afternoon, the Hong Kong bourse added.

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Hong Kong morning stock trading canceled due to severe storm

MarketWatch 28 June, 2021 - 09:18am

The cancellation followed the bourse’s earlier move to delay trading after the Hong Kong Observatory issued a Black Rainstorm warning.

If the rainstorm alert is canceled at or before noon, HKEX said it will resume trading for major products of its securities and derivatives markets in the afternoon.

If the alert remains at noon, all afternoon trading will be canceled as well, it said.

Stocks that have at least doubled in five years and increased dividend payouts by a lot include Home Depot, Best Buy, Morgan Stanley, BlackRock and Union Pacific.

HK morning trading, classes, and courts canceled due to year's first black rainstorm warning

Hong Kong Standard 28 June, 2021 - 09:18am

Hong Kong Exchanges and Clearing has canceled Monday's morning trading in the wake of a black rainstorm warning issued by the Hong Kong Observatory.

The Department of Justice said courts and tribunals are adjourned and would remain so if the black rainstorm warning is in effect at 11:00 am.

The warning was issued  at 8:20a.m. It was the first such rain warning this year.

The warning means that heavy rain has fallen or is expected to exceed 70 millimeters in an hour, and is likely to continue.

If the weather warning is donwgrade before 11:00 a.m., trading will take place from 1:00 p.m. Trading will not take place if the weather warning remains by midday.

A red rainstorm warning signal was issued at 5:55 am, while a yellow rainstorm warning was issued at 5:05 am.

A landslide was reported on Lantau Island.

The Transport Department also suspended services, including licensing offices at Admiralty, Cheung Sha Wan, Kwun Tong and Sha Tin, the Public Vehicles Unit, the Cross Boundary Unit, the Driving Test Appointment Office, the Driving Test Centers and Written Test Centre.

"Black rainstorm" floods Hong Kong roads

The Star 28 June, 2021 - 09:18am

Red rainstorm warning downgraded to Amber

Hong Kong Standard 28 June, 2021 - 09:18am

Hong Kong’s red rainstorm warning, the second time this year, was further downgraded to an amber signal at 11.45am as the downpour eased over the city.

The Hong Kong Observatory issued the city’s first black rainstorm signal of the year at 8.20am today,  prompting the suspension of class, and caused landslides in some parts of the city.

It was downgraded to red at 11.05am.

Meanwhile, the thunderstorm warning and the landslip warning is still in effect, reminding the public to take precautions and warning of possible flooding and landslips.

In Pictures: Hong Kong beach hit by muddy waterfall as city sees first black rainstorm of 2021 | Hong Kong Free Press HKFP

Hong Kong Free Press 28 June, 2021 - 06:00am

Hong Kong news – Independent, impartial, non-profit

The black rainstorm signal, the most severe warning, was issued at 8.20 am and lasted for about three hours, allowing the stock exchange to open in the afternoon. But schools were shut all day.

The weather service said at 10.35 am that rainfall in most areas of Hong Kong reached over 70 millimetres. Some areas such as Hong Kong Island West, the southern part of Lantau Island and Lamma Island, recorded over 200 millimetres.

Authorities received nine reports of flooding, while there were at least three landslides. A landslip near Upper Cheung Sha Beach on Lantau Island saw muddy water flooding into the beach area like a waterfall.

Lifeguards flushed the dirty water off a balcony overlooking the beach, as seen in photos supplied by the Hong Kong and Kowloon Lifeguards Union spokesman Nick Wu. Nearby roads were covered by bricks and rocks, while at least one tree fell into a public sitting-out area.

Numerous Lantau bus routes had to be suspended or to change their routes as traffic lanes around South Lantau Road were blocked. The roads reopened at around 3.30 pm.

Similar scenes occurred at Mount Davis Path on Hong Kong Island West, where a landslip caused muddy water to pour down in torrents.

Flooding also hit the Tuen Mun-Chek Lap Kok Tunnel Road, causing the traffic lane leading to Tuen Mun to be shut briefly.

Kai Tak MTR station, which is one of the stops on the Tuen Ma Line that only began running on Sunday, was partially flooded. MTR staff covered ticket turnstiles with plastic covers to protect them as large puddles formed on the floor.

A spokesperson for the railway company told local media that the water leak was caused by a burst in a flush water pipe and was not linked to the downpour.

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Hong Kong trading starts after 'black rainstorm' delay

Yahoo News 28 June, 2021 - 02:16am

The decision to open the market came after the government cancelled an earlier "black rainstorm" warning.

The city has three levels of rainstorm warning, with black being the highest after amber and red.

Landslides and flooding were reported in some parts of Hong Kong as it was hit with high amounts of rainfall.

The Hong Kong Stock Exchange announced that trading would start from 1.30pm local time after the black rainstorm warning was lifted as the extreme weather conditions eased.

It was the city's first black rainstorm warning this year, with more than 150mm of rain reported in the Western part of Hong Kong and the islands of Lantau and Lamma. Several other districts saw at least 70mm of rain.

The storm delayed a flight carrying Hong Kong leader Carrie Lam and her delegation to Beijing for the Chinese Communist Party's 100th anniversary celebrations by around an hour, according to the South China Morning Post.

Schools and Covid-19 vaccination services were also suspended due to safety concerns.

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Asia-Pacific stocks little changed; Hong Kong sees shortened trading day after earlier pause

CNBC 27 June, 2021 - 06:41pm

SINGAPORE — Stocks in Asia-Pacific were muted on Monday, as Hong Kong saw a shorter trading day following a morning pause due to severe weather conditions.

The Hang Seng index slipped fractionally on Monday to 29,268.30. Trading in Hong Kong's markets resumed Monday afternoon in the city after an earlier severe weather warning was lowered.

Hong Kong Exchanges and Clearing announced earlier on Monday that the morning trading sessions of both the securities and derivatives markets, including Stock Connect trading, was delayed due to a black rainstorm warning.

Black rainstorm signals are issued as a warning of heavy rain that is likely to bring about flooding on the roads, leading to traffic congestion.

Mainland Chinese stocks closed mixed, with the Shanghai composite mildly lower at 3.606.37 while the Shenzhen component gained 0.975% to 15,150.17.

Data released Sunday by China's National Bureau of Statistics showed profits at China's industrial firms rose 36.4% in May as compared with a year earlier. That was a slowdown from the 57% year-on-year growth posted in April.

Elsewhere, the Nikkei 225 in Japan slipped fractionally to finish the trading day at 29,048.02 while the Topix index gained 0.15% to close at 1,965.67. South Korea's Kospi closed little changed at 3,301.89.

Australia stocks were little changed, as the S&P/ASX 200 closing largely flat at 7,307.30.

MSCI's broadest index of Asia-Pacific shares outside Japan was around the flatline.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.743 after a decline earlier this month from above 92.1.

The Japanese yen traded at 110.68 per dollar after last week's weakening from below 110.4 against the greenback. The Australian dollar changed hands at $0.7583 after rising last week from below $0.756.

Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.3% to $75.95 per barrel. U.S. crude futures sat 0.22% lower at $73.89 per barrel.

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