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See more Images of June Follow Reuters Facebook Twitter RSS YouTube Read Hong Kong lowers storm signal, markets to open in afternoon 12:11am EDT Internet poker owner handed 14-month prison term 23 Jul 2012 Colorado massacre suspect appears in court looking dazed, sleepy | 12:28am EDT Obama attacks on taxes and Bain hit Romney ratings 1:02am EDT Transplanted cornea in use for record 123 years 23 Oct 2008 Discussed 232 Mexico urges U.S. to review gun laws after Colorado shooting 141 Fourteen killed in Denver movie theater shooting 117 Syrian battles rage in capital, Russia pressed Watched Artificial jellyfish shocked into "life" Mon, Jul 23 2012 Colorado massacre suspect makes court appearance Mon, Jul 23 2012 Typhoon batters Hong Kong Mon, Jul 23 2012 Sponsored Links Hong Kong lowers storm signal, markets to open in afternoon Tweet Share this Email Print Related News Severe typhoon hits Hong Kong and south China Mon, Jul 23 2012 Typhoon sweeps toward Hong Kong and south China Mon, Jul 23 2012 ZTE shares post biggest fall in three-and-a-half years on profit warning, U.S. probe Mon, Jul 16 2012 Billionaire HK property tycoons charged in bribery case Fri, Jul 13 2012 China city scraps alloy plant after protests Tue, Jul 3 2012 Related Topics World » Natural Disasters » 1 of 6. Fallen trees block a road after a typhoon in Hong Kong July 24, 2012. Credit: Reuters/Bobby Yip HONG KONG | Tue Jul 24, 2012 12:11am EDT HONG KONG (Reuters) - Hong Kong's stock market and offices were expected to open after the city lowered its tropical cyclone warning late on Tuesday morning, with a severe typhoon that had battered the territory overnight with gale-force winds weakening and moving away. Typhoon Vicente grounded flights and shut port operations by Monday evening and authorities hoisted the highest No. 10 tropical cyclone signal for several hours overnight, making it one of the strongest to hit the city in the past decade. A government spokesman confirmed shortly after 10 a.m. (10.00 p.m. EDT) on Tuesday that the signal had been reduced to 3 from 8. Financial markets, schools, businesses and non-essential government services close when a No. 8 signal or above is hoisted, posing a disruption to business in the capitalist hub and former British colony that returned to Chinese rule in 1997. Typhoon Vicente began veering away from the city and weakening earlier on Tuesday but, with the No. 8 signal up, the stock market was closed for the morning. With the signal lowered to 3, the stock market will open at 1 p.m. Hong Kong time (01.00 a.m. EDT). Separately, China's National Meteorological Center issued an orange alert for Typhoon Vicente, the second highest warning level in China's four-tier typhoon warning system, the official Xinhua news agency reported. Strengthening gale-force winds uprooted trees, churned up huge waves in Hong Kong's Victoria Harbour and sent debris flying, injuring some 30 people as Vicente slammed into the city and the western reaches of China's Guangdong province. Fifteen flights were cancelled and more than 200 delayed late on Monday, aviation authorities said, although Hong Kong's main carrier Cathay Pacific said it planned to resume some flights. Affected airlines are expected to have to clear a sizeable backlog of stranded passengers. The Hong Kong Observatory raised the No. 10 signal early on Tuesday as Vicente swept much closer to Hong Kong than initially thought, making this the first time the highest typhoon signal had been raised since 1999. More than 30,000 Chinese fishing boats were alerted to return to harbour, with 10,560 fishermen taking shelter ashore in Guangdong, Chinese state media reported. Storm surges and sea wave warnings were heightened, with winds of up to 100 kph (60 mph) expected. (Reporting by James Pomfret and Tan Ee Lyn; Editing by Paul Tait) World Natural Disasters Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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