Aug 12 (Reuters) - An earthquake of magnitude 7.1 struck off the southeast coast of the Philippines early on Thursday, the U.S. Geological Survey said, as various agencies ruled out the risk of it triggering tsunamis. The quake was at a depth of 65.6 km, the USGS said. Broadcaster CNN reported the Philippine Institute of Volcanology and Seismology (Phivolcs) as initially saying damage and aftershocks were expected. There were no early reports of significant shocks or damage, however. Phivolcs also said there was tsunami threat to the country, while the U.S. National Weather Service and Hawaii Emergency Management said there was no risk of a tsunami for the U.S. West Coast or Hawaii either. The Philippines is on the geologically active Pacific Ring of Fire and experiences frequent earthquakes.