Huge earthquake strikes off coast of Chile

A 7.1 magnitude earthquake has hit 38 kilometres off the coast of Chile.

The US Geological Survey reports the earthquake struck at a depth of 10km and revised upwards its initial readings of a magnitude 6.7 quake.

There have so far been no injuries or damage to buildings reported.

The quake struck at 6.40pm Monday night local time in the Pacific Ocean off the coast of the port city of Valparaiso.

There were reports of buildings swaying in the tremor in the capital Santiago, about 115km east of the coast.

The Chilean navy said earlier the quake generated conditions likely to lead to a tsunami on the Chilean coast but there have been no reports of increased coastal activity.

The quake struck a highly earthquake-prone area along the Nazca and South America plates.

In 2010 a devastating 8.8 earthquake hit the region, triggering a tsunami that unleashed havoc and led to the deaths of more than 500 people.

The quake was one of the biggest ever recorded.