Hong Kong’s Historic Storm Could Cost $100 Million

Hong Kong’s Historic Storm Could Cost $100 Million

Bloomberg Intelligence estimates that Hong Kong’s heaviest torrential downpour since 1884 could cost the city more than $100 million.

The city was battered by a torrential downpour last night and into this morning that caused cars to crash, metro stations to flood, and shopping malls to sustain damage.

A portion of the Kwun Tong Line has previously been suspended by MTR Corp. because of flooding close to Wong Tai Sin station.

On Friday, Hong Kong was inundated by torrential rain, which caused widespread flooding throughout the compact city and submerged streets, commercial centers, and metro stations.

Hong Kong’s Historic Storm

Since records began 140 years ago, the Chinese Special Administrative Region experienced its greatest hourly rainfall total.
6.2 inches of rain were record by the Hong Kong Observatory between Thursday night at 11 p.m. HKT and Friday morning (1500 to 1600 GMT on Thursday).

More than 200 mm of rain had been record on Hong Kong’s main island, Kowloon, and the northeastern section of the city’s.

New Territories since Thursday night, according to the weather bureau, which issued the highest “black” rainstorm warning.

Since Thursday, the coast of Guangdong has Hong Kong’s Historic Storm experienced torrential rain brought on by the trough of low pressure connected.

To the remnant of Typhoon Haikui, according to the weather service. Severe weather is anticipate to persist through Friday at least lunchtime.

If the black rainstorm warning is still in effect by 9 a.m. on Friday, the Hong Kong stock exchange will not open, according to the exchange.

The mayor of the city, John Lee, stated that he had ordered all agencies to make “all-out efforts” in response to the severe flooding that has affected the majority of the territory.

Social media users posted videos of streets turning into raging rivers, and one video showed water pouring into a flooded metro station via an escalator.

One of the key thoroughfares connecting Hong Kong island to Kowloon.

The city’s cross harbor tunnel, was also flooded, and pictures shown a wet shopping center in the Chai Wan neighborhood.

According to Hong Kong’s MTR Corp., which runs the city’s rail system. At least one line is close while others run with sporadic delays.

Due to “extreme conditions caused by severe Hong Kong’s Historic Storm flooding and serious traffic disruption.” The administration announce that all schools were close on Friday.

It urged enterprises to adhere to the standard work schedules for heavy wind signal 8. Which effectively shuts down the city’s businesses and causes offices and stores to close. (Farah Master reported; Jamie Freed edited)

After wreaking havoc in the Philippines last week, tropical storm Fengshen made landfall in Hong Kong on Wednesday.

It brought torrential rain, uprooted trees.

Expected to close schools, shops, and courts around the city. The wealthy city of 7 million people upped its tropical cyclone “signal 8” warning. When wind gusts in outlying areas approached 186 kph (115 mph).

The ministry said in a statement. As a result, markets won’t open for trading on Wednesday.

The storm warning could be reduce to a strong wind signal number 3 later this morning. The city’s weather observatory said in a statement, adding that it anticipated the storm to decrease after reaching landfall.

If the storm warning is cancel, the financial markets Hong Kong’s Historic Storm might open.

With floods anticipated in several areas of the northern New Territories of Hong Kong. The red rainfall warning signal was also raise.

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