Hong Kong Stock Market Closed As Severe Typhoon Hits

Hong Kong's stock exchange was closed for trade on Wednesday, as a severe typhoon slammed into the area, wind gusts of around 130 miles. Typhoon Hato, the first category 10 storm to hit the island state since 2012, forced schools, government offices and businesses to shut down, while also leaving more than 400 flights cancelled out of Hong Kong airport. The category 10 warning signal for typhoons has only been used 14 other times since 1946, according to media reports. Hato came within 37 miles of Hong Kong, but a direct hit to the main island was not expected. The typhoon is expected to make landfall in China's Guangdong province.