March 1, 2020 / 9:24 PM / a month ago

Australian shares likely to fall at open; NZ down 3%

    March 2 (Reuters) - Australian shares were set to decline on
Monday, possibly extending their six-day rout, after dismal
Chinese manufacturing data painted a grim picture of the massive
potential damage to the global economy from the coronavirus. 
    In the first proper glimpse of the virus' impact, official
data released on Saturday showed China's factory activity
contracted to a record low in February as widespread containment
measures paralysed economic activity.                 
    Australia's share price index futures          fell 0.6%, a
107.2-point discount to the underlying S&P/ASX 200 index        
close. 
    The benchmark lost 9.8% last week, its biggest decline since
the 2008 global financial crisis, after entering into correction
territory on Friday. 
    New Zealand's benchmark S&P/NZX 50 index         fell as
much as 3% at open to a more than three-month low.

 (Reporting by Niyati Shetty in Bengaluru; Editing by Daniel
Wallis)
  
 
 
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