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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject7/5/2001 8:02:59 AM
From: TobagoJack  Read Replies (1) of 74559
 
OT: this non-financial storm will be hitting us in HK tonight, and possibly tomorrow ... I am all done hoarding food, drinks, and rental DVDs
asia.cnn.com China braces for Utor


By staff and wire reports

HONG KONG, China -- A powerful typhoon is swirling its way toward southern China after leaving dozens dead and causing major disruptions in the Philippines.

After skirting around the southern coast of Taiwan on Thursday, residents in Hong Kong and China's Guandong Province are bracing themselves for Typhoon Utor -- one of the worst storms to threaten the region in 20 years.

Forecasters said Utor was whirling northwest, toward China with the the Hong Kong Observatory saying in an aviation forecast that the storm was expected to hit near Hong Kong around 8:00a.m. (0100 GMT) Friday morning.

Hong Kong was expected to see heavy rain with sustained winds over 120kmh, and gusts of up to 200kmh.

Officials in the region have issued sea and land storm warnings, fishing vessels were seeking refuge in shelters and several airlines have cancelled flights into Hong Kong’s Chek Lap Kok International Airport, including China Airlines and Korean Air.

Late Thursday, Utor’s eye, the center of the storm, was 230 miles (370 km) southeast of Hong Kong.

Utor means "squall" in the language spoken on the Marshall Islands, and is one of a series of regional names chosen to label typhoons in the West Pacific region.

Devastation
The storm left behind a trail of devastation in the Philippines where at least 40 people were killed -- most due to floods and mudslides -- and at least 16 were listed as missing.

More than 25,000 people were forced out of their homes, the northern Regional Disaster Management Center said.

Despite only brushing past Taiwan, one Taiwanese was killed and rescuers are searching for more than 50 fishermen and hikers reported missing.

Heavy rain flooded houses and farms, forcing government offices and schools in six provinces to close.

Flooding in Vietnam
Separately, in Vietnam, 22 people were killed in flooding related to Typhoon Durian, which hit the region days earlier.

Up to 17 inches of rain fell between Monday and Wednesday, submerging large areas of some northern provinces, the National Weather Forecast Center said.

Authorities in Vietnam say it's still too early to say whether Utor is a threat to the country.

The Associated Press contributed to this report.
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