Magnitude 7.4 earthquake strikes Philippines, tsunami threat cancelled, one dead

The first images have emerged from the Philippines showing the moment a shallow magnitude 7.4 earthquake struck, initially prompting tsunami alerts.

The powerful earthquake has killed at least one person, damaged buildings, knocked out power and prompted widespread evacuations of coastal areas, the Guardian reported.

School students were seen gathering outside, huddled together for safety, in images captured moments after the quake struck in the Mindanao region at 9.43am local time.

Locals are seen struggling to breathe and being carried away on chairs after the quake.

Footage has also been released showing people running to safety through busy streets as market stalls sway around them.

The Philippine Seismology Agency confirmed the quake hit about 10km below the Earth’s surface.

The first images have emerged showing the impact of a shallow magnitude 7.4 earthquake that struck the Philippines. Photo / Supplied

In an updated alert, it has been confirmed there was no longer a tsunami threat in place.

Earlier, the Philippine Seismology Agency said a destructive tsunami “with life-threatening wave heights” was expected.

It was thought that hazardous tsunami waves were possible for coasts located within 300km.

Some people were left struggling to breathe after the quake struck in the Mindanao region at 9.43am local time. Photo / AFP

Indonesia also issued its own tsunami warning for North Sulawesi and the Papua regions, according to Reuters.

There were no immediate reports of damage, the Guardian reported.

Multiple aftershocks have already struck the area, including a 5.9 and a 6.0 magnitude quake.

Philippines President Ferdinand Marcos said the Government was working “round the clock” to ensure help reaches everyone.

“We are now assessing the situation on the ground and ensuring that everyone is safe… Search, rescue and relief operations are already being prepared and will be deployed as soon as it is safe to do so,” he said in a statement.

One emergency responder told the BBC she still feels disoriented after the quake, saying it lasted for nearly a minute.

School students gather outside after an earthquake struck the Philippines today. Photo / AFP

Video shows moment quake hit

CCTV video from multiple market stalls shows the moment of panic that hit locals as they walked along the streets.

People, including young children, are seen covering their heads and running in fear.

CCTV video from a market stall shows the moment the quake struck as locals walked on the street. Photo / YouTube

The incident comes after a powerful earthquake struck the central Philippines on September 30.

The shallow quake killed at least 60 people and severely damaged buildings and infrastructure in cities nearby.

More than 150 were believed to have been injured.

The 6.9 magnitude quake struck around 10pm local time, just west of Palompon and close to the city of Bogo in Cebu province, CNN reported.

The Government says it is working “round the clock” to ensure help reaches everyone. Photo / AFP

The Philippines sits along the Ring of Fire, a 40,000km arc of seismic fault lines encircling the Pacific Ocean.

It is home to more than half of the world’s volcanoes and is frequently struck by powerful earthquakes.