Taiwan will suspend trading on its $2.5 trillion stock exchange Thursday as a powerful typhoon barrels toward the archipelago.
Super Typhoon Kong-Rey has intensified as it skirts the Philippines and tracks toward Taiwan, where it’s expected to make landfall on Thursday afternoon. The storm has maximum sustained winds of 125 knots (232 kilometers) per hour, according to the US Navy’s Joint Typhoon Warning Center. That makes the typhoon equivalent to a Category 4 hurricane.
Taipei will also shut offices and schools, according to a government notice.
The suspension of stock trading will be the first