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Why Alibaba And Other Stocks Are Unexpectedly Not Trading In Hong Kong Today

Shares of Alibaba Group Holding Limited (NYSE: BABA) and other major Chinese companies listed in the U.S. including JD.Com Inc. (NASDAQ: JD), Baidu Inc. (NASDAQ: BIDU), Tencent Holdings Inc. (OTC: TCEHY), Li Auto Inc. (NASDAQ: LI) and Xpeng Inc. (NYSE: XPEV), are not trading in Hong Kong on Wednesday.

What Happened: Trading in Hong Kong’s stock market was canceled for the entire day on Wednesday after heavy rain and gusty winds from typhoon Kompasu lashed the city.

See Also: How To Buy Xpeng Motors (XPEV) Stock

Typhoon Alert: The Hong Kong Observatory issued an alert that Storm Signal No. 8, the third-highest on its scale, will remain in force up to 4 p.m. local time on Wednesday.

According to the Hong Kong stock exchange rules, trading sessions for the entire day will be canceled if the storm alert continues after 12 p.m. This includes after-hours trading.

Holiday: The market will also remain closed on Thursday for the Chung Yeung Festival holiday.

Read Next: Chinese AI Research and Business is Booming, but America is Still King

© 2021 Benzinga does not provide investment advice. All rights reserved.

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