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

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.
Aus