Australian stocks are poised to extend their losses to a fifth day after another rout on most global markets.

The SPI200 futures contract was down 164 points, or 2.48 per cent, at 6,452 at 0800 AEDT on Friday, pointing to another sharp fall when the local market opens.

By Thursday’s close, shares on the benchmark index had fallen to levels last seen on December 5 as $170 billion in value was wiped from the market.

Global markets continued to fall overnight as the growth in coronavirus cases outside China jumped significantly on Thursday.

Harvey Norman and Rural Funds Group are among the local companies reporting their earnings on Friday.

The Aussie dollar was buying 65.80 US cents at 0800 AEDT, up from 65.50 US cents at the market close on Thursday.