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Taiwan, China Prepare for Typhoon

Taiwan is preparing for the onslaught of a powerful typhoon that is forecast to hit the northern part of the island Friday.

Forecasters say Typhoon Soulik will effect waters east and north of Taiwan and its coastal areas late Friday and early Saturday.

Taiwanese officials say businesses and schools will be closed, although the financial markets will operate normally.

Taiwan's China Airlines and Hong Kong-based Cathay Pacific Airways have warned of significant flight cancellations.

The storm is expected to churn across the narrow Taiwan Strait and hit the provinces of Fujian and Zhejiang on the Chinese mainland on Saturday.

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