Taiwan: Markets closed for the day after Typhoon Dujuan kills two

[TAIPEI] A typhoon that killed two people forced Taiwan to close its markets Tuesday and left hundreds of thousands of travelers stranded at the height of the Mid-Autumn Festival holiday.

Typhoon Dujuan killed two people and left 700,000 households without power, according to the government. As many as 1 million people lost water in Taipei, the Central News Agency reported, citing a city water official.

The rain had subsided in parts of Taipei by 9 am after the city extended a school-and-office closure from a half day to a full day. The stock, bond and currency markets will also remain closed all day.

"Typhoon Dujuan is expected to leave Taiwan by noon today after its center left the island at 1 a.m. this morning," Tzeng-si Yen, Taiwan Central Weather Bureau forecaster, said by phone. "Its threat has weakened." Two people died after being blown over or struck by debris, and more than 300 people were injured, according to the Central Emergency Operation Center.

More than 200,000 passengers were stranded after train service was reduced at the end of the Mid-Autumn Festival holiday ahead of the typhoon, the Taipei-based Apple Daily reported. Some train lines remain halted until noon, Taiwan Railways and Taiwan High Speed Rail said on their websites.

Cathay Pacific Airways Ltd. canceled or delayed about 30 flights from Taiwan Monday and Tuesday, the airline said yesterday. About 600 domestic and international flights were canceled or delayed as of 8 pm last night, the Civil Aeronautics Administration said in an e-mailed statement.

The storm was about 90 kilometers east-northeast of Taiwan's Kinmen Island by 8:30 am, according to Taiwan's Central Weather Bureau. Dujuan is moving northwest at 18 kilometers an hour toward China's Fujian province. China's Meteorological Administration expects the storm to make landfall Tuesday morning.

BLOOMBERG