NZ drops after after cenbank cuts rates; Australian shares likely to rise at open

New Zealand’s benchmark S&P/NZX 50
index fell 1.4% in early trade after the nation’s
central bank stunned markets by slashing the official cash rate
by 75 basis points.
Meanwhile, Australian shares were set to open higher on
Monday, following a late rally on Wall Street on Friday after
U.S. President Donald Trump declared a national emergency to
combat the rapidly spreading coronavirus.
Trump freed $50 billion to tackle the pandemic, resulting in
all thr