In case you missed it: Magnitude 7.6 earthquake hits Japan
It's a terrible way to start the new year for those affected, with local authorities in the Ishikawa prefecture reporting at least 30 fatalities caused by the incident. There are quite notable damages to buildings and infrastructures in the region with the Japan Meteorological Agency reporting more than 140 tremors already since the first quake since yesterday.
If you compare it to the last devastating earthquake and tsunami that hit Japan in 2011, the impact this time around on markets is more muted. Back then, the yen currency strengthened amid repatriation flows and also as Japanese stocks plunged (margin calls perhaps?). So far today, USD/JPY is up 0.4% to 141.40 while Japanese stocks aren't trading amid it still being the holiday period. So, just be wary of that as well when analysing the impact for the time being.
