(Yicai Global) Feb. 7 -- A 6.5-magnitude earthquake in Taiwan has left 7 people dead so far, while 254 have suffered injuries and 88 remain unaccounted for, China News reported on its website.

The powerful tremor, which jolted waters off Taiwan's east coast near Hualian at 11:50 pm last night, led to the collapse of many buildings in the area, including the landmark Marshal Hotel in the city.

Taiwan's seismological center does not rule out the possibility of aftershocks in the coming weeks, though they are expected to be smaller in scale to last night's quake. Smaller tremors have been reported throughout the day.

The island was previously hit by a 5.8-magnitude tremor on Feb. 4, followed by nearly 100 aftershocks. These preceding quakes are thought to have been foreshocks, the local meteorological agency said.

The earthquake left 40,000 homes in Hualian without water and 1,900 with no power. Water has now been returned to almost 5,000 homes in the city, which is home to around 100,000 people.