Stock brokers say 'no' to trading during typhoons
A brokers' group on Friday said it opposes the idea to allow stock trading during severe weather conditions, as the government considers plans to keep markets open during typhoons. The Securities and Futures Professionals said public safety should come first, as reports suggest that a public consultation exercise on the matter could begin this quarter. In an open letter to Chief Executive John Lee and top finance officials, the association noted that the Jockey Club suspends betting during bad weather.  "The Jockey Club would call off races under severe weather conditions, does that mean that being human is worse than being a horse?" wrote the group's chairman, Mofiz Chan. Chan pointed out that only one or two trading days a year are lost due to severe weather, and he questioned the necessity of such a change. The association added it also opposes proposals to extend trading hours as well as trading days by cutting long holidays, citing costs. He added that capital transactions involve complicated problems with the banking sector, and the association believes it is naive to think it would be easy to rely on remote access software to control office computers.