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Live Trading News > Blog > Headline News > Magnitude 7.2 earthquake strikes Taiwan
Headline News

Magnitude 7.2 earthquake strikes Taiwan

Shayne Heffernan Ph.D.
Last updated: April 2, 2024 10:29 pm
Shayne Heffernan Ph.D.
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Taiwan, a small island nation located in the western Pacific Ocean, has a long history of seismic activity due to its position along the Pacific Ring of Fire. This area is characterized by high volcanic and seismic activity, making Taiwan particularly vulnerable to earthquakes.

On Wednesday morning, Taiwan experienced yet another reminder of its susceptibility to seismic events when a magnitude 7.2 earthquake struck off its eastern coast. The earthquake, centered off the coast of Hualien County, occurred at 7:58 am local time, sending tremors across the island, including its capital city, Taipei.

Footage of buildings collapsing in or around Taipei, Taiwan.
pic.twitter.com/NHFfctgxrF

— Nerdy 🅰🅳🅳🅸🅲🆃 (@Nerdy_Addict) April 3, 2024

According to Wu Chien-fu, the head of the Central Weather Administration’s Seismological Center, this earthquake is the most powerful to hit Taiwan since 1999. The 1999 Jiji earthquake, also known as the 921 earthquake, had a magnitude of 7.6 and caused extensive damage and loss of life in central Taiwan.

🚨#BREAKING: Multiple buildings have collapsed after a Pair of Massive 7.5 Earthquakes Strikes Triggering Tsunami Warnings

📌#Taipei | #Taiwan

Currently, a pair of powerful, massive earthquakes has just occurred. The first one measured a magnitude of 7.5, followed by a 7.4… pic.twitter.com/XCKd7ocjel

— R A W S A L E R T S (@rawsalerts) April 3, 2024

Despite its significant magnitude, initial reports indicate that there have been no immediate casualties resulting from the earthquake. However, several tall buildings in affected areas have suffered partial collapse, highlighting the destructive potential of seismic events of this magnitude.

A pair of very massive #earthquake stuck #Taipei Taiwan with huge magnitude of 7.4 & 7.5

– Heavy landslides occured
– Many big buildings collapsed
– The whole city was shaking heavily
– Tsunami sirens sounding off and warning issued near coast.

Let's pray for #Taiwan #tsunami pic.twitter.com/I6TNHcMPjm

— SAJJAD PARASARA (@sajjadparasara3) April 3, 2024

Taiwan’s geographical location, situated at the convergence of several tectonic plates, makes it prone to earthquakes and other geological hazards. The island’s mountainous terrain and densely populated urban areas further exacerbate the risk of damage and casualties in the event of a major seismic event.

In response to the earthquake, authorities in Taiwan have issued a tsunami warning, urging residents in coastal areas to evacuate to higher ground as a precautionary measure. Tsunami warnings are standard protocol following significant undersea earthquakes, as they have the potential to generate powerful ocean waves capable of causing widespread destruction along coastlines.

As Taiwan grapples with the aftermath of this latest earthquake, efforts will be focused on assessing the extent of the damage, providing assistance to affected communities, and implementing measures to enhance resilience against future seismic events. The resilience and preparedness of Taiwan’s infrastructure and population will continue to be tested as the island confronts the ongoing threat of earthquakes and other natural disasters.

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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