By P.R. Venkat

Hong Kong's morning trading session has been canceled due to a typhoon alert issued by the government, which is currently at signal No. 8.

"If typhoon Signal No. 8 or above, or any announcement of extreme conditions, remains issued at 9:00 a.m. (Hong Kong Time), the morning trading sessions for all markets will be canceled," Hong Kong Exchanges & Clearing said Friday.

The Hong Kong Observatory said on its website that typhoon Saola continues to move closer to Hong Kong and that the weather will deteriorate rapidly later today.

"There will be heavy squally showers and violent winds. The Gale or Storm Signal No. 8 will remain in force for most of today," it said.

HKEX said that if the typhoon signal or any announcement of extreme conditions is canceled before noon, securities and derivatives markets will resume trading in the afternoon.

All trading sessions will be canceled if typhoon signal No. 8 or any announcement of extreme conditions remains issued at noon.

Write to P.R. Venkat at

(END) Dow Jones Newswires

08-31-23 2141ET