Aerial views showed the coastline of Hokkaido in Japan early on Wednesday (July 30) shortly after the Japan Weather Agency issued a Tsunami warning following a magnitude 8.7 earthquake struck off Russia's Far Eastern Kamchatka Peninsula. The Japan Weather Agency upgraded its warning, saying it expected tsunami waves of up to 3 meters (10 feet) to reach large coastal areas starting around 0100 GMT. Broadcast NHK said evacuation orders had been issued by the government for some areas. Factory workers and residents in Japan's northern Hokkaido were evacuated to a hill overlooking the ocean, broadcaster TBS announced. "Please evacuate quickly. If you can move quickly to higher ground and away from the coast," a newscaster on Japanese public broadcaster NHK said.
The earthquake struck at a depth of 10 kilometers around 42 kilometers northeast of Anamizu in Ishikawa prefecture, according to the United States Geological Survey (USGS). The Japan Meteorological Agency immediately issued tsunami warnings along the coastal regions of western Japan and the first waves were reported just 10 minutes later.
Pop superstar Lady Gaga, in Japan for a charity concert, on Thursday praised the country for its beauty and encouraged visitors, whose numbers have dropped in the wake of the earthquake, tsunami and nuclear crisis, to return.
Japan has started looking into the causes of the nuclear crisis at the Fukushima Daiichi power plant, with an independent panel of experts holding their first gathering today, June 7, in Tokyo.
Japanese officials said on Sunday they were committed to nuclear power after the prime minister called for a plant to close, but that the target of obtaining half of Japan's electricity from nuclear power by 2030 needed a rethink.
Japan has again been hit by another massive earthquake. Earthquake measuring 6 on Richter scale has hit north Japan. However, no damage has been reported yet.
Japan tsunami has reduced rubber prices by Rs 30 per kg bringing relief to the tyre companies, reports The Financial Express. At 09:35 hrs JK Tyre and Industries was quoting at Rs 99.20, up Rs 4.75, or 5.03%. It was trading with volumes of 127,948 shares.
The International Atomic Energy Agency (IAEA) has said that all units at the Fukushima Daini, Onagawa, and Tokai nuclear power plants are in a safe and stable condition. In fact, the IAEA remains concerned over the status of the Fukushima Daiichi nuclear power plant. CNBC-TV’18’s Sri Jegarajah reports the latest details from Tokyo.
Domestic market is dealing with a new challenge on the back of the Japan crisis. Japan’s benchmark index Nikkei has dropped almost 10%, creating tremendous pressure on its Asian peers. Meanwhile, concerns over crude have taken a backseat for a while as crude rates have slipped to almost 2%-3% per barrel.
Yingxi Yu, Commodity Analyst at Barclays who tracks the energy markets tells CNBC-TV18 that the shutting down of refineries in Japan is a positive for Asian refiners. She also finds that short-term risk aversion can lead to a further short-term correction in oil prices. "Brent crude seems to be well supported at USD 110 a barrel."
This may be Japanese prime minister Naoto Kan's last chance at redemption. Just days before the deadly calamity, Kan was on the verge of stepping down as PM. Takahide Kiuchi, economist at Nomura, spoke to CNBC-TV18's Menaka Doshi about the situation in Japan, the rebuilding process and the government in power.
Ruling out the impact of last week's losses, domestic market marked a significant recovery on the first day of the week. Crude oil prices dropped marginally as news of earthquake and tsunami in Japan created a pressure on crude rates.
The northern coast of Japan was slammed by a massive 10 magnitude earthquake, which triggered more than four meters high Tsunami waves. Japan's benchmark index Nikkei closed down 1.7% at 10,254.43 points after the earthquake struck.