In a rare historic event, markets in hong kong rose wednesday in the midst of unprecedented typhoon trading. This is apparently the 1st time in history HK market trading continued during a category 10 typhoon (essentially a category 4 hurricane by western standards).
The groundwork for this move was laid in september 2024 when hong kong introduced its severe weather trading package allowing trading to continue in the face of typhoons rated 8 or higher.
Quoting South China Morning Post:
The Hang Seng Index rose 0.3 per cent to 26,240.34 as of 10am. The Hang Seng Tech Index rose 0.4 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added about 0.1 per cent.
SMIC, mainland China’s largest semiconductor foundry, rose 3.8 per cent to HK$75.30. State-owned property developer China Overseas Land & Investment gained 2.1 per cent to HK$14.08.
This appears to be a result of traders calling market bottom and buying the dip. As the rise marks the end of two days worth of decline.
Within the same trading timeline japan, australian and south korean indexes experienced marginal percentage dips.
