The government has activated a coordination center under the Financial Services and the Treasury Bureau to ensure the smooth operation of all segments of Hong Kong's financial market under various extreme conditions as Super Typhoon Ragasa approaches, said Financial Secretary Paul Chan Mo-po.
In a social media post, Chan said the Financial Services Front is maintaining close contact with financial regulators and stakeholders, closely monitoring market conditions, and conducting a dynamic assessment of the potential impact of weather conditions on financial market operations.
He pointed out that the “severe weather trading” arrangement — which allows trading to continue under Signal 8, black rainstorm or above, has just marked its first anniversary since implementation on September 23 last year.
The measures to maintain market trading during severe weather have been tested multiple times in practice and have operated largely smoothly since their introduction, with the market having accumulated a certain amount of experience.
The Hong Kong Exchanges and Clearing (0388) will continue to maintain normal trading during the typhoon and has requested financial institutions to allocate human and operational resources early to activate their trading operation arrangements for severe weather, in order to maintain stable market operation.
HKEX will also continue to monitor the situation closely and will issue announcements when necessary to keep market participants informed with the latest news, Chan said.
