Taiwan closed schools and financial markets on Wednesday as Typhoon Krathon unleashed heavy rains and winds across the south and east ahead of its expected landfall.

Packing sustained winds of 173 kilometers (107 miles) per hour and gusts up to 209 kph, Krathon was located 130 kilometers southwest of the major port city Kaohsiung at noon (0400 GMT). The Central Weather Administration (CWA) reported that the typhoon was downgraded overnight but is now projected to reach near Kaohsiung or Tainan on Thursday morning, a day later than earlier forecasts.

CWA chief Cheng Chia-ping noted, “This typhoon is moving very slowly. The time of its landfall continues to be delayed, with the latest forecast suggesting it will hit around 10:00 am tomorrow.”

In response, offices and schools were closed, and over 10,000 residents from vulnerable areas were evacuated as a precaution. Premier Cho Jung-tai urged the public to stay home and remain alert, emphasizing the potential for prolonged damage due to the slow movement of the storm.

All domestic flights and ferry services were canceled, affecting around 250 international flights. Nearly 40,000 troops were placed on standby for relief efforts.

As of Wednesday, 46 typhoon-related injuries were reported, and one person in Yunlin county was missing after falling into the sea.

Taiwan frequently experiences typhoons from July to October, but a recent study indicates that climate change is intensifying storms and causing them to form closer to coastlines.

Krathon previously struck a remote group of Philippine islands, damaging homes and disrupting power and communications, with reports of eight injuries and one missing person. Over 5,400 individuals were displaced in northern regions of the Philippines, particularly in Ilocos and Cagayan Valley.