March 9, 2020 / 9:15 PM / a month ago

Australia shares poised to enter bear market territory

    March 10 (Reuters) - Australian shares are likely to open
lower on Tuesday and the market is set to enter a bear market
territory as the uncertainty around COVID-19 and the oil price
collapse clouded the global economic outlook, denting the risk
appetite further.
    The local share price index futures          fell about 4.8,
a 328.6-point premium to the underlying S&P/ASX 200 index
        close. The benchmark declined 7.3% on Monday, marking
its biggest drop in over 11 years.
    The benchmark has plunged just under 20% since its record
peak in February.
    New Zealand's benchmark S&P/NZX 50 index         slid 4.3%
in early trade.

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Sandra Maler)
  
 
 
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