Taiwan Braces for Typhoon Gaemi: Work Suspended, Markets Closed

Taiwan prepares for Typhoon Gaemi, with financial markets closed, flights canceled, and military on stand-by. The medium-strength typhoon is set to make landfall on Taiwan’s northeast coast and then move to China’s Fujian province. Authorities in both Taiwan and China are on high alert for severe weather impacts.

Taiwan hunkered down on Wednesday ahead of the arrival of Typhoon Gaemi, with financial markets closed, people given the day off work, flights canceled, and the military put on stand-by amid forecasts of torrential rain and strong winds. Gaemi, the first typhoon of the season to affect Taiwan, is expected to make landfall on the northeast coast early evening on Wednesday, according to the island's Central Weather Administration.

Currently categorized as a medium-strength typhoon by Taiwan, it is then likely to move across the Taiwan Strait and then hit the southeastern Chinese province of Fujian late afternoon Friday. In rural Yilan county, where the typhoon will first hit land, wind and rain gathered strength, shutting breakfast eateries and roads mostly emptied.

'This could be the biggest typhoon in recent years,' fishing boat captain Hung Chun told Reuters, adding Yilan's Suao harbor was packed with boats seeking shelter. 'It's charging directly towards the east coast and if it makes landfall here, the damage would be enormous.'

Work and school are suspended across Taiwan, with the streets of capital Taipei almost deserted during what is normally rush hour amid squally rain. The transport ministry said almost all domestic flights had been canceled, along with 27 international flights.

However, TSMC, the world's largest contract chipmaker and a major supplier to Apple, said it expected its factories to maintain normal production during the typhoon, adding it had activated routine preparation procedures. Some mountainous central and southern Taiwan counties are expected to see total rainfall of up to 1,800 mm (70 inches) during the typhoon, the weather administration said.

Taiwan's defense ministry said it was ready to assist with disaster relief and had put its forces on stand-by. While the typhoon has severely curtailed this year's annual Han Kuang war games, they have not been totally canceled, with live fire drills taking place as scheduled on the Penghu islands in the Taiwan Strait on Wednesday morning.

Ahead of the typhoon hitting China, several coastal provinces began preparing with Fujian raising emergency response plans. China's State Flood Control and Drought Relief Headquarters also issued a heightened emergency response for flooding in Fujian and next door Zhejiang province. Forecasters expect heavy rainfall across several provinces over the next coming days as the typhoon makes its way north.

Gaemi and a southwest monsoon brought heavy rain on Wednesday to the Philippine capital region and northern provinces, prompting authorities to halt work and classes, while stock and foreign exchange trading were suspended. While typhoons can be highly destructive, Taiwan also relies on them to replenish reservoirs after the traditionally drier winter months, especially for the southern part of the island.

(With inputs from agencies.)