Market Insight: April 2024 Taiwan Earthquake

On April 3, 2024, a powerful magnitude 7.4 earthquake struck Taiwan, resulting in at least 9 fatalities and over 1,000 injuries, marking the strongest quake in the area since 1999. The seismic event, centered southsouthwest of Hualien City, triggered numerous aftershocks and a small tsunami, causing widespread damage including collapsed buildings, landslides, and disruptions to infrastructure. Despite the swift response of authorities and relief efforts, challenges persist, such as rescuing trapped individuals, restoring utilities, and repairing damaged infrastructure. International solidarity has been evident, despite tensions between Taiwan and China regarding relief assistance.

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