Typhoon Hato could cause HK$8 billion in losses after No 10 signal storm brought Hong Kong to standstill

scmp.png

Photo: Sam Tsang, SCMP

A paralysed stock market, business closures, flight cancellations and the suspension of public transport were some of the disruptions caused by Typhoon Hato on Wednesday as market analysts put the economic cost to the city at anywhere between HK$4 billion and HK$8 billion.

A typhoon signal No 10 – the highest in Hong Kong’s storm warning system – was issued in the morning, and later downgraded throughout the day.

It was only the 15th No 10 signal since 1946, with the last being Typhoon Vicente in July 2012.

Read more at SCMP