A Category 2 Typhoon is aimed for Hong Kong, a global center of commerce, transit,
production, finance and crime.
By the time Usagi reaches the coast near Hong Hong in the early morning hours on Monday (local time), the storm should be at Category 2 strength. This is still strong enough to pose a formidable storm surge, wind, and heavy rain threat to China, and Usagi is likely to be one of the five strongest typhoons to affect Hong Hong in the past 50 years. If the eye of the storm hits just west of Hong Kong, a large storm surge capable of causing over a billion dollars in damage will inundate portions of the coast along the bay that Hong Kong, Macau, and Shenzhen share. Wunderground's weather historian, Christopher C. Burt, has a new post, Hong Kong's typhoon history, detailing the most notable storm's in Hong Hong's history. The most notable typhoon to hit Hong Kong in the past 50 years was Typhoon Rose of 1971, which sank over 300 boats and killed 110 people.When Sandy, hit NYC it wasn't even Cat 1, but it did 400 miles of coast damage.
Usagi was Cat 5 a few days back but spun down as it crossed taiwan.
James Reynolds is chasing the storm and tweeting it.
I'd say the big problems are that if the hong kong markets don't open or open in a funny
condition, it could cause some real stress on the NY and European markets.
The markets are now stressed to the maximum by large stock IPOs, we may
see a stress event, much as Sandy was.
We will also see if the HK regional government and the Chinese govt can cope
more efficiently, then we did.
Typhoon Usagi creating 42ft waves according to the Pacific Disaster Centerapparently the #8 storm signal is up in HK harbor, and severe storm surge is a concern.
For those of you with friends and families, thoughts and prayers will be needed.
For those with money in the market, well, hold on tomorrow is going to be a rough one.
8:04 AM PT: Usagi looks to be aiming for a direct hit on Shenzen city and Gungdong province, shenzen is home to Apple, i mean Foxconn electronics,
a serious amount of damage there means no iPhone 5 production for a while.
There were some big typhoons last year and global disk drive production was screwed, here, we have something else big.