Australian shares are set to tumble on open on Tuesday, tracking Wall Street and global markets on fears that debt-ridden China's Evergrande may impact the pace of global economic growth.

The local share price index futures fell 1.4%, a 130.2-point discount to the underlying S&P/ASX 200 index close.

The benchmark on Monday closed 2.1% lower at 7,248.2, marking its steepest drop since Feb. 26.

New Zealand's benchmark S&P/NZX 50 index fell 0.42% to 13,178.6 in early trade.