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.
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