The US Geological Survey says Saturday's earthquake in Chile triggered about 115 aftershocks. Meanwhile Chilean President Michelle Bachelet says the death toll has exceeded 700, and is likely to rise further.

A 6.1 magnitude aftershock struck off the coast of Chile on Sunday.

The tremor triggered a tsunami, which hit the city of Constitucion, 350 kilometers from the capital Santiago.

About 150 residents were reported missing after waves receded.

Colonel Jorge Concha, Chilean Army, said, "There are believed to be many people missing. They could be under the rubble, but they could also have disappeared as a result of the wave that hit this area about 25 minutes after the earthquake."

Two million people nationwide have been affected by the quake. A total of 1.5 million homes were damaged or destroyed. In Constitucion alone, at least 350 people were killed.

Chilean President Michelle Bachelet has called for international help, stressing her country needs aid workers, disaster evaluation teams and relief supplies, including makeshift hospitals and water sterilizers.

Michelle Bachelet, Chilean President, said, "We are facing an emergency that requires an urgent and rapid response. Because of this, I want to make a call to all civil and military authorities, to all representatives of the private sector, and to other public institutions, to make themselves available to collaborate in this task."

President-elect Sebastian Pinera also says he is ready to face the daunting challenge of reconstruction.

Experts predict the earthquake will cause economic damage of between 15 and 30 billion US dollars to one of Latin America's most stable economies.

Some fear the tremor may put pressure on the country's currency.

Two major copper mines shut down by the quake are expected to resume operation on Sunday. Analysts fear that power shortages will continue in the country.