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Tag: Japan Airlines Co Ltd

  • Massive earthquake slams Japan, residents flee some coastal areas

    Massive earthquake slams Japan, residents flee some coastal areas

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    TOPSHOT – This image taken in Hong Kong on January 1, 2024 shows a warning message on a screen from a live feed on NHK World asking people to evacuate from the area after a series of major earthquakes hit central Japan. A powerful 7.5 earthquake hit central Japan on January 1, the USGS said, prompting tsunami warnings and authorities to urge people in the area to move to higher ground. (Photo by Mladen ANTONOV / AFP) (Photo by MLADEN ANTONOV/AFP via Getty Images)

    Mladen Antonov | Afp | Getty Images

    A powerful earthquake struck central Japan on Monday, triggering warnings for residents to evacuate some areas on its west coast, destroying buildings, knocking out power to thousands of homes and disrupting travel to the region.

    The quake with a preliminary magnitude of 7.6 triggered waves of around 1 metre along parts of the Sea of Japan coast, with authorities saying larger waves could follow.

    The Japan Meteorological Agency issued tsunami warnings for the coastal prefectures of Ishikawa, Niigata and Toyama. A major tsunami warning — the first since the March 2011 earthquake and tsunami that struck northeastern Japan — was initially issued for Ishikawa but later downgraded.

    Russia also issued tsunami warnings in its far eastern cities of Vladivostok and Nakhodka.

    Several houses have been destroyed and army units have been dispatched to help with rescue operations, top government spokesperson Yoshimasa Hayashi told reporters, adding that authorities were still assessing the extent of the damage.

    More strong quakes in the area, where seismic activity has been simmering for more than three years, could occur over coming days, JMA official Toshihiro Shimoyama said.

    ANKARA, TURKIYE – JANUARY 01: An infographic titled ‘Series of powerful earthquakes strikes Japan, triggering tsunami alert’ created in Ankara, Turkiye on January 1, 2024. (Photo by Muhammed Ali Yigit/Anadolu via Getty Images)

    Anadolu | Anadolu | Getty Images

    In comments to the press shortly after the quake struck, Prime Minister Fumio Kishida also warned residents to prepare for more disasters.

    “Residents need to stay on alert for further possible quakes and I urge people in areas where tsunamis are expected to evacuate as soon as possible,” Kishida said.

    “Run!” a bright yellow warning flashed across television screens advising residents in specific areas of the coast to immediately evacuate their homes.

    Images carried by local media showed a building collapsing in a plume of dust in the coastal city of Suzu and a huge crack in a road in Wajima where panicked-looking parents clutched their children. There have been reports of at least 30 collapsed buildings in Wajima, NHK reported, citing the city’s fire department.

    The quake also jolted buildings in the capital Tokyo, some 500 km from Wajima on the opposite coast.

    More than 36,000 households had lost power in Ishikawa and Toyama prefectures, utilities provider Hokuriku Electric Power said.

    High speed rail services to Ishikawa have been suspended while telecomoperators Softbank and KDDI reported phone and internet service disruptions in Ishikawa and Niigata, according to their websites.

    Japanese airline ANA turned back planes headed to airports in Toyama and Ishikawa, while Japan Airlines cancelled most of its services to Niigata and Ishikawa regions and authorities said one of Ishikawa’s airports was closed.

    Japan’s Nuclear Regulation Authority said no irregularities have been confirmed at nuclear power plants along the Sea of Japan, including five active reactors at Kansai Electric Power’s Ohi and Takahama plants in Fukui Prefecture.

    Hokuriku’s Shika plant in Ishikawa, the closest nuclear power station to the quake’s epicentre, had already halted its two reactors before the quake for regular inspections and saw no impact from the quake, the agency said.

    The 2011 earthquake and tsunami killed nearly 20,000 people and devastated towns and triggered nuclear meltdowns in Fukushima.

    Another quake, known as the Great Hanshin Earthquake, hit western Japan in 1995, killing more than 6,000 people, mainly in the city of Kobe.

    Monday’s quake struck during the Jan. 1 public holiday when millions of Japanese traditionally visit temples to mark the new year.

    In Kanazawa, a popular tourist destination in Ishikawa, images showed the remnants of a collapsed gate strewn at the entrance of a shrine as anxious worshippers looked on.

    Kanazawa resident Ayako Daikai said she had evacuated to a nearby elementary school with her husband and two children soon after the earthquake hit. Classrooms, stairwells, hallways and the gymnasium were all packed with evacuees, she said.

    “I also experienced the Great Hanshin Earthquake, so I thought it would be safest to evacuate,” she told Reuters when contacted by telephone.

    “We haven’t decided when to return home yet.”

    The jolt was also felt by tourists who had flocked to Japan’s mountainous Nagano region for the start of the snow sports season.

    Johnny Wu, a 50-year-old Taiwanese snowboarder, was waiting for a shuttle bus back to his hotel in the resort town of Hakuba when the quake hit, rattling windows and shaking snow of roofs and overhead electric wires.

    “Everybody was panicked at that time. I’m a little bit better because, I come from Taiwan, so I’ve experienced a lot. But still, (I’m) still worried about (the quake) getting more serious,” he said.

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  • Consumers are starting to fire up China’s pandemic-battered economy, two ETF experts find

    Consumers are starting to fire up China’s pandemic-battered economy, two ETF experts find

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    China’s pandemic-battered economy is starting to see consumers open their wallets wider, according to KraneShares’ Brendan Ahern.

    “We’re seeing the incremental rebound from the Chinese consumer,” the firm’s chief investment officer told “ETF Edge” this week. “[But] it’s not like turning on a light switch.”

    The National Bureau of Statistics of China reports retail sales have been increasing since last November.

    Ahern, who’s involved with the firm’s China-focused ETFs, expects quarterly earnings for Chinese companies to improve with each consecutive quarter — a forecast that may already be unfolding.

    Tech giants Baidu and Tencent beat revenue expectations for the fiscal first quarter of 2023. Alibaba, on the other hand, missed revenue estimates.

    “We’re actually hearing that for many of the companies … in the management calls, they’re speaking to how Q2 already is outpacing Q1, which outpaced Q4 of last year,” Ahern said.

    China’s reopening is also anticipated to have a positive impact on the airline industry.

    Singapore Airlines, Japan’s All Nippon Airways and Japan Airlines all noted demand from China as a factor in future earnings while reporting net profits earlier this month for the financial year ended March 2023.

    GraniteShares’ Will Rhind sees a similar growth trajectory.

    “Domestic travel [is] rebounding … but we’ve yet to see that from the international sector,” the ETF provider’s CEO said. “It will come, but maybe just not yet.”

    Rhind told CNBC in a special interview later in the week that international travel from China could start to rebound this summer following a sluggish start.

    His forecast comes as a government-backed epidemiologist said the country’s new Covid wave could infect 65 million a week by the end of next month.

    Rhind believes the recent Covid surge won’t affect the reopening’s trajectory, adding past lockdowns seen across China are “very, very much unlikely to be repeated.”

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