YILAN, Taiwan (July 24): Taiwan hunkered down on Wednesday for the arrival of a strengthening Typhoon Gaemi, with financial markets shut, flights cancelled and one person killed, while the military went on stand-by amid torrential rain.

Gaemi, expected to be the strongest storm to hit Taiwan in eight years, is set to make landfall on the northeast coast late on Wednesday evening, weather authorities said.

They upgraded its status to a strong typhoon, packing gusts of up to 227kph (141mph) near its centre.

After crossing the Taiwan Strait, it is likely to hit the southeastern Chinese province of Fujian late on Thursday afternoon.

One person died, crushed by a falling tree, in the southern city of Kaohsiung, the fire department said. It also reported another 58 people were injured.

"The next 24 hours will present a very severe challenge," Taiwan Premier Cho Jung-tai told a televised meeting of the emergency response centre.