The 8.7-magnitude earthquake off Russia’s coast led to warnings and advisories for parts of Japan and Alaska. Officials in Hawaii told people to expect destructive waves.

A magnitude 8.8 earthquake struck off Russia's Far Eastern Kamchatka Peninsula on Wednesday, generating a tsunami of up to 4 metres (13 feet), damaging buildings and prompting warnings and evacuations that stretched across the Pacific Ocean.

Japan’s central bank should raise rates when its policy board meets this week, and failure to do so will weaken the yen and exacerbate inflation, said Takeshi Niinami, chief executive officer of Suntory Holdings Ltd.

The 8.8-magnitude earthquake off Russia’s coast led to warnings and advisories across a broad region. Officials in Hawaii told people to expect destructive waves.

Japan's ruling coalition agreed on Wednesday with four major opposition parties to abolish a provisional gasoline tax at the soonest this year, as it gave in to opposition pressure following a major election defeat.

A tsunami has hit coastal areas of Russia's Kuril Islands and Japan's large northern island of Hokkaido after an 8.7-magnitude earthquake early Wednesday.

Rei Ihara, food sector analyst at UBS Securities, said the scope for further price hikes is narrowing, as Japan's Engel coefficient, the share of household spending on food, hit 28.3% in 2024, the highest in 43 years.

European investment firm EQT will launch a $2.7 billion tender offer for Fujitec at 5,700 yen per share, the Japanese elevator maker said on Wednesday.