March 3 (Reuters) - Australian shares were set to rise at open on Tuesday, possibly ending a seven-day trough, as investors hoped the country's central bank will ease policy to counter economic damage from the coronavirus. Markets expect the Reserve Bank of Australia to trim its cash rate by 25 basis points at its monthly review later in the day, as central banks around the world stand ready to respond to the potential impact from the epidemic. The local share price index futures rose 1.1%, a 21.5-point premium to the underlying S&P/ASX 200 index close. The benchmark clocked a 10.8% decline over the last seven sessions, ending down 0.8% on Monday. New Zealand's benchmark S&P/NZX 50 index rose 2.4% to 11,373.97 as at 2113 GMT. (Reporting by Niyati Shetty in Bengaluru; Editing by Sandra Maler)
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