Shanghai bourse on alert as typhoon approaches

Shanghai's stock exchange said it would take "emergency measures" if trading or communications systems are affected by Typhoon Wipha, which smashed into China's eastern coast today with winds of 185 km/h, Bloomberg reported. The storm is headed toward Shanghai after crossing the coast in Zhejiang province after 2am. It was moving north-northwest at 20 km/h with winds of up to 232 km/h. The typhoon will be close to Shanghai by 2pm. In Shanghai, 200,000 people, mainly living in old and unstable buildings, have been evacuated. Taiwan's stock exchange was closed Tuedsay as the storm passed north of the island. (Track Wipha's progress at the Hong Kong Observatory website)