March 3, 2020 / 9:52 PM / a month ago

Australia shares poised to decline at open, NZ down

    March 4 (Reuters) - Australian shares were set to fall at
open on Wednesday as investors feared that interest rate cuts
would not be enough to combat the economic impact of the
coronavirus outbreak. 
    The U.S. Federal Reserve on Tuesday announced an emergency
half-percentage point interest rate cut, becoming the second
central bank from a developed nation to slash rates after
Australia's 25 basis point trim earlier in the day.
    The local share price index futures          fell 1.1%, a
139.7-point discount to the underlying S&P/ASX 200 index        
close. The benchmark closed 0.7% higher on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         was down
0.7% at 11,271.98 in early trade.

 (Reporting by Arpit Nayak
Editing by Chris Reese)
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