Financial markets are set to reopen in the Philippines on Thursday as residents clear debris and authorities work to restore power after a typhoon churned across the Southeast Asian country, killing at least 20 people. Typhoon Rammasun, the strongest storm to hit the Philippines this year, is heading towards China after cutting a path across the main island of Luzon, shutting down the capital and knocking down trees and power lines, causing widespread blackouts. Disaster officials are still assessing damage but the coconut-growing Quezon province south of Manila appears to have borne the brunt of Rammasun, which intensified into a category 3 typhoon as it crossed the Philippines. Tropical Storm Risk, which monitors cyclones, has downgraded Rammasun to a category 1 storm on a scale of one to five as it heads northwest into the South China Sea.
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