The Hong Kong Stock Exchange is closed today (Monday, May 9) in honor of the celebration of Buddha’s birthday on May 8.

Mainland China’s bourses are open as usual. Shares in Chinese companies listed in both the U.S. and Hong Kong such as Alibaba, JD.com and Nio will trade as usual at the New York Stock Exchange or Nasdaq.

Buddha's Birthday, a holiday for celebration and reflection for Buddhists, is traditionally celebrated in most of East Asia to commemorate the birth of the Prince Siddhartha Gautama, the founder of Buddhism, according to an introduction by the Boston Public Library. “ Some commonalities in celebration between the different branches of Buddhists are the hanging of lanterns, enjoying communal meals, parades, and visits to temples with offerings.”

Hong Kong’s benchmark Hang Seng Index dropped 3.8% on Friday following declines in U.S. shares on worries about fallout from rising interest rates.

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Russell Flannery

I'm a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 22nd year at Forbes, I compile the Forbes China Rich List. I was previously a correspondent for Bloomberg News in Taipei and Shanghai and for the Asian Wall Street Journal in Taipei. I'm a Massachusetts native, fluent Mandarin speaker, and hold degrees from the University of Vermont and the University of Wisconsin at Madison.

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