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Hong Kong Markets to Resume Trading After Storm Signal Lowered

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The stock market and banks of Hong Kong are set to resume their services after Typhoon Kalmaegi spared the city and headed in a southwesterly direction toward China's Hainan Island.

MOSCOW, September 16 (RIA Novosti) - The stock market and banks of Hong Kong are set to resume their services after Typhoon Kalmaegi spared the city and headed in a southwesterly direction toward China's Hainan Island.

"Trading will take place as usual," a notice on the Hong Kong Exchanges and Clearing website said once the warning about the typhoon was discontinued.

Banks were to open within two hours after the signal was dropped, Bloomberg reported, citing a statement by the Hong Kong Association of Banks.

According to the Hong Kong Observatory, at 2 p.m. local time (06:00 GMT), Typhoon Kalmaegi was estimated to be about 510 kilometers (317 miles) west-southwest of the city. The winds at Hong Kong are said to be gradually moderating after the departure of the typhoon. However, the Strong Wind Signal is expected to remain in effect for most of the day.

The Hong Kong Observatory raised the warning Monday. The typhoon disrupted the financial activities of the region, as well as flights at the Hong Kong Airport. Despite Kalmaegi's departure, flights in the area are still said to be subject to the impact of strong winds. Ship and boats at sea have also been advised by the Hong Kong Observatory to be on guard.

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