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 8.9 magnitude Tsunami Strong Quake Shakes Japan

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PostSubject: 8.9 magnitude Tsunami Strong Quake Shakes Japan   8.9 magnitude Tsunami Strong Quake Shakes Japan Icon_minitimeFri 11 Mar 2011, 5:57 pm

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Tsunami Strong Quake Shakes Japan
8.9 magnitude Tsunami Strong Quake Shakes Japan OB-MZ196_0311jq_D_20110311020502
TOKYO—A devastating earthquake with a magnitude of 8.9 rocked Japan Friday afternoon, forcing tens of thousands of people to evacuate their homes, killing at least five and triggering a 10-meter tsunami that violently swept away cars and other objects in its path and shutting down phone lines and transportation in most parts of the country.


The quake was originally reported at a magnitude of 7.9 but was later upgraded to 8.9. That makes it the fifth largest recorded world-wide since 1900, according to the U.S. Geological Service, larger than the 7.9-magnitude Great Kanto Earthquake that devastated Tokyo in 1923 or the 6.8 magnitude quake that hit Kobe in 1995.

A tsunami flooded towns and caused widespread damage.
Live Blog
Video: Live Feed From Sky News Australia Live Blog: Updates From Japan Real Time More: Nikkei Falls 1.7%, TSE Systems Unaffected Trending Now
#miyagi, #tsunami, #prayforjapan, #SendaiAirport, #NHKWorld, #japan, #japanEQ, #TokyoDisneyland The quake caused mass panic around Tokyo, where workers evacuated their buildings and power was cut off at 4.1 million households in Tokyo and neighboring prefectures. The natural disaster could derail the country's nascent economic recovery and increase Japan's already massive public debt, which is 200% of gross domestic product. An emergency cabinet meeting is being held, after which Prime Minister Naoto Kan will address the nation.

Near Tokyo Station, the epicenter of the capital city, people were streaming out to the street, where the only option was to walk—buses and taxis weren't available, while all trains were halted. Cellphone reception was down, causing long lines to snake around payphones. People were huddled around televisions, trying to grasp the extent of the damage in Japan.At least three people died in Ibaraki, Tochigi and Chiba prefectures, while at least dozens of people were injured in a wide range of areas such as Miyagi Prefecture and central Tokyo, according to Kyodo News.
Smoke rising from Tokyo's waterfront Daiba district after the quake
A tsunami warning issued by the Pacific Tsunami Warning Center in Hawaii included Japan, Russia, Taiwan, the Philippines, Indonesia, Guam, the Northern Marianas, the Marcus Islands and the Wake Islands, and extended across the Pacific Ocean to include Central and South America.
The yen and Tokyo stocks fell, while Japanese government bond futures gained.

8.9 magnitude Tsunami Strong Quake Shakes Japan OB-MZ254_0311jq_G_20110311034757
In Tokyo, hundreds of concerned office workers tried in vain to make calls on jammed cellphone networks, some wearing hardhats and other protective headgear. Many of them streamed out of buildings in the business district, gathering in open areas. The crowd appeared spooked by the sound of glass windows rattling in tall buildings.
Aftershocks were continuing, with one hitting magnitude 7.1, according to the U.S. Geological Survey. Tall buildings swayed violently in central Tokyo as the aftershocks hit.
NHK Television reported that water could be seen rising over cars and pouring into warehouses at Onahama port in Fukushima Prefecture; in Iwate Prefecture a building was washed away, with boats and cars swirling around in the rising waters. The governor of Miyagi Prefecture asked for Japanese military forces to be sent in to help, Kyodo News Service reported. The quake was centered 130 kilometers to the east of the prefecture's capital, Sendai. The Defence Ministry was sending eight fighter jets to check the damage, the agency said.
Tokyo's major airports halted flights. All Tokyo area trains appeared to have been halted, while the shinkansen bullet train service was suspended.

The quake brings down a bookstore ceiling in Sendai
Two nuclear plants on the Pacific coast in Fukushima Prefecture were automatically shut down, according to Kyodo.

The Bank of Japan set up a disaster control team, headed by BOJ Governor Masaaki Shirakawa, and said it would do all it could to supply liquidity to the market. The government set up a task force at the Prime Minister's Office.

The benchmark Nikkei Stock Average closed 1.7% lower, the U.S. dollar rose to around 83.30 yen from 82.80 yen earlier and June JGB futures ended 0.66 higher at 139.20 points, having hit an intraday high of 139.90 just after the quake.

8.9 magnitude Tsunami Strong Quake Shakes Japan OB-MZ195_0311JQ_G_20110311020348
A flooded street in Miyagi prefecture as seen on Japanese government broadcaster NHK
"The impact in the currency exchange market was a bit magnified because the overall market flow was thin. Now we'll pay attention to damage situations and if this is going to have a big negative impact on the domestic stock markets, the yen will keep weakening ahead," said Mitsuru Sahara, a senior dealer at Bank of Tokyo-Mitsubishi UFJ.

Analysts from Fitch Ratings and Moody's Investors Service both said it was too early to say how the quake might affect the country's credit ratings.

Richard Jerram, a Singapore-based economist at Macquarie Securities with long experience in Japan, said that while the scale of damage was hard to predict, "the most obvious concern is the debt market. That's going to be the thing to watch."

Japan's political logjam won't likely be a problem, as "you're obviously going to get a cooperative approach," he said.


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PostSubject: Re: 8.9 magnitude Tsunami Strong Quake Shakes Japan   8.9 magnitude Tsunami Strong Quake Shakes Japan Icon_minitimeFri 11 Mar 2011, 7:38 pm

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PostSubject: Re: 8.9 magnitude Tsunami Strong Quake Shakes Japan   8.9 magnitude Tsunami Strong Quake Shakes Japan Icon_minitimeFri 11 Mar 2011, 7:43 pm

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