Since last night Typhoon Chanchu has lost some its threatening look. While convection was very strong all around the typhoon last night, the north side of the storm has since collapsed. A closer look at the water vapor imagery shows nearly no convection on the north side of the typhoon. However, the eyewall does remain intact on this side. This will allow Chanchu to quickly restrengthen if conditions again become favorable. However, at this point the dry air and increased shear to the north are making that look unlikely.
The latest advisory from the Joint Typhoon Warning Center has reduced Chanchu's sustained winds to 132 mb and weakened the intensity to 927 mb. A weaker typhoon will make it more likely to Chanchu will miss Hong Kong and instead strike further to the east.