The Hong Kong Observatory issued a so-called Typhoon Signal 8, the third highest, at 11:10 p.m. local time Wednesday as tropical storm Toraji is edging closer to the Pearl River Estuary and local winds will strengthen.

Usagi is expected to maintain a distance of more than 500km from the city and then turn towards Japan’s Ryukyu Islands

Hong Kong stocks hovered around a seven-week low while investors await a flurry of earnings cards from bellwether companies as the city’s financial markets opened for business under typhoon conditions for the first time.

A typhoon is brewing over Hong Kong but it’s business as usual for the city’s $5.4 trillion stock market.