Typhoon Vicente hit late on Monday, bringing winds of more than 140 km/h (87 mph) and heavy downpours.
The storm warning was briefly raised to the highest level of 10 for the first time in 13 years but downgraded on Tuesday as the storm passed.
Trading on the stock exchange was temporarily delayed on Tuesday morning.
The stock exchange was expected to resume trading in the afternoon.
Although the typhoon was forecast to move away from Hong Kong across western Guangdong, the Hong Kong Observatory warned that gale force winds were still prevailing on Tuesday morning.
Authorities warned that flight disruptions could continue.
More than 100 people aged between four and 86 sought treatment at public hospitals and at least 72 were hospitalized, officials said.
Flooding has also been reported in some areas and hundreds of trees were felled overnight.
The Hong Kong government has opened 24 temporary shelters and more than 250 people have sought refuge.
The Airport Authority said that between midnight to 08:00 local time, 60 flights had been cancelled, 60 delayed and another 16 diverted.
Public transportation systems were resuming service gradually on Tuesday morning.
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