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Taiwan to close markets, offices in Taipei as typhoon nears

Monday, September 26, 2016 - 22:00

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Financial markets and offices in Taipei will be closed Tuesday as Typhoon Megi approaches Taiwan, while airlines across southern China canceled or rerouted flights in and out of the island.

[TAIPEI] Financial markets and offices in Taipei will be closed Tuesday as Typhoon Megi approaches Taiwan, while airlines across southern China canceled or rerouted flights in and out of the island.

Schools and government offices will also be closed in some municipalities and counties across Taiwan, including Taipei, the Directorate-General of Personnel Administration said in a statement on its website.

The fourth typhoon that prompted Taiwan to issue warnings this year had sustained winds of 155 kilometers (96 miles) an hour, gusting to 191 kilometers an hour, the Central Weather Bureau said. As of 8 pm, the storm was 450 kilometers off the coast of eastern Taiwan's Hualien. The agency forecasts Megi's center will make landfall around Tuesday afternoon.

Cathay Pacific Airways Ltd canceled 19 Taiwan flights scheduled for Sept 27-28. The island's largest carrier China Airlines Ltd said Tuesday night flights were canceled or delayed. High speed rail service will be suspended all day Tuesday.

In China, the meteorological administration raised the level of its emergency response readiness and forecast Megi to make landfall on the coast of Fujian province Thursday morning.

BLOOMBERG

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