Taiwan closes markets, schools as typhoon Mitag nears

Taiwan has ordered the closure of schools and shut down its financial markets on Monday as Typhoon Mitag approaches its north-eastern coast.

Typhoon Mitag, packing maximum sustained winds of 126 kph, with gusts of up to 162 kph, is set to gain strength as it approaches the island on Monday night.

More than 150 flights and ferry services have also been cancelled and about 12,000 soldiers placed on standby amid warnings of floods and high winds.

"The national army and authorities are on all-out alert. Friends in the affected areas please make preparations for the typhoon and stay indoors as much as possible," President Tsai Ing-wen wrote on Facebook.