HONG KONG- A typhoon swept past Hong Kong on Thursday, closing markets, schools and most businesses in one of Asia's most important financial centres.

The stock market, government offices and schools will remain closed for the rest of the day as Typhoon Nesat makes its way past Hong Kong en route to south China, after crossing the Philippines where it left at least 35 dead and 45 missing.

"Gale winds persist over parts of Hong Kong in particular over the southwestern part of the territory," the observatory said in a statement. "With Nesat moving away from Hong Kong, the local winds show sign of weakening."

No deaths were reported in Hong Kong, but local television showed footage of at least two people who were hospitalised after being hit by falling debris as a result of strong winds.

The Hong Kong Observatory's No 8 typhoon warning signal will remain in effect for most of the day, it said on its website, prompting financial markets to be closed all day.

Hong Kong has a series of different typhoon warnings. Schools, businesses and government services stop when any No 8 or above typhoon warning is hoisted. The weather service will consider downgrading the warning as winds subside, it said.

As of 0545 GMT, Nesat was centred about 390 kilometres (240 miles) Southwest of Hong Kong, which saw winds of up to 121 kilometres per hour. The tropical cyclone on Tuesday hit the Philippines, where it also caused an estimated 1.1 billion pesos ($25 million) in crop and infrastructure damage.

Several window panes from the headquarters of Hang Seng Bank ?in the business district fell, but no one was injured.

"The streets are empty and all the shops are closed," said Sharon Guan, a tourist who was waiting for her ferry at the China Ferry Terminal. "It's so unusual to see Hong Kong so deserted at this hour."

Tropical cyclones regularly hit Hong Kong, the Philippines and other coastal regions of south China in summer and early in autumn.

EMPTY STREETS, ANGRY TOURISTS

A ship weighing 1,677 deadweight tonnes ran aground in the early hours of Thursday morning, but there were no injuries, the Hong Kong Marine Department said.

Nearly 20 shelters were also set up around Hong Kong, while the government cancelled public events, including the daily flag raising ceremony at the city's Victoria Harbour.

Usually crowded streets were devoid of people as its iconic tram system stopped operations and the subway and bus systems cut trips. Trees fallen by strong winds blocked some roads, while taxis still plying the roads asked for extra fare.

Hong Kong's dominant airline Cathay Pacific said all its flights to and from the city were operating as normal. The Hong Kong International Airport's website showed at least 40 departing flights were delayed or cancelled.

Ferry terminals that link Hong Kong to Macao, south China and outlying islands were also closed.

Angry tourists gathered at the Hong Kong-Macao ferry terminal next to the city's business district, with some waiting in despair and others crowding around ticket counters demanding their money back.

"We all thought we would have a good time in Hong Kong, but it's been a disaster," said one tourist who gave her name as Huang. "All they want is to take our money, but when there is trouble, they disappear."

Neighbouring Macao was also affected, with schools and businesses at the former Portuguese colony closed.

But the city's glittering casinos, including the Venetian Macao and the Wynn Macao, remained open for tourists who managed to make their way there. ($1 = 43.460 Philippine Pesos)