Australian shares are set to open sharply lower on Thursday, after the World Health Organisation declared the coronavirus outbreak a pandemic, exacerbating concerns of a global economic slowdown.
The local share price index futures <YAPcm1> fell about 3.5%, a 197.9-point discount to the underlying S&P/ASX 200 index <.AXJO> close.
The benchmark dropped over 3.5% on Wednesday, slipping back into bear territory.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> tumbled 2.1% in early trade.
(Reporting by A K Pranav in Bengaluru)
