Two major earthquakes have struck just south of Taiwan on Boxing Day, with reports that a tsunami is set to hit the Philippines.

|PIC1|The earthquake, of magnitude 7.1, occurred at a depth of 10km at 12.26 GMT, reported the US Geological Survey.

Although there have been no immediate reports of damage in southern Taiwan, warnings have been sent of a tsunami of up to one metre (3.3 feet) thought to be heading towards the Philippines, Japan's Meteorological Agency said.

The epicentre was off the Hengchun Peninsula on the island's southern tip and 90 km south-southeast of Taiwan's second city Kaohsiung. Taiwan's Central Weather Bureau on its Web site confirmed 2 separate earthquakes, the first of 6.7 magnitude and a second of 6.4.

Despite the initial warnings, Philippine's authorities have said that they believed there was very little chance of the tsunami actually reaching their shores.

Anthony Golez, spokesman for the government's National Disaster Coordinating Committee said, "There is no reason to raise a tsunami alert because there is no threat."

The Pacific Tsunami Warning Centre has also reported that no Pacific-wide tsunami was expected, although a local tsunami was possible.