The Observatory said on Wednesday it would consider issuing the Strong Wind Signal No. 3 between 6pm and 9pm as Typhoon Yagi continues to intensify and edge closer to the western part of the South China coast.
The Standby Signal No. 1 is now in force.
The Observatory also said it would assess the need to issue higher signals between Thursday afternoon and Thursday night.
As of 9am, Yagi was estimated to be about 520 kilometres southeast of Hong Kong and local winds are expected to strengthen gradually on Wednesday night.
The Observatory also recorded more than 9,000 lightning strikes from 10pm to midnight on Tuesday amid an Amber Rainstorm Warning signal.