Taiwan to Close Markets and Offices on Monday as Typhoon Nears

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(Bloomberg) -- Financial markets and offices in Taipei will be closed on Monday as Typhoon Mitag approaches.

Schools and offices in some other cities and counties in northern and eastern Taiwan will also be shut, according to a statement on the Directorate-General of Personnel Administration’s website.

Taiwan’s Central Weather Bureau issued both sea and land warnings earlier Sunday. As of 10:15 p.m. local time, Mitag was 560 kilometers (348 miles) off Taipei. The storm had sustained winds of 108 kilometers (67 miles) an hour and gusts of up to 137 kilometers an hour. The bureau also warned of torrential rain in some areas.

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