* Victoria state posts record daily death toll
* ASX posts biggest weekly loss since June 12
* Tech stocks see worst day in nearly 5-1/2 months
* NZ restrictions to stay on until at least mid-Sept
Sept 4 (Reuters) - Australian shares fell on Friday by their
most in four months, after a sharp sell-off in technology stocks
sent Wall Street's main indexes to their worst session since
The S&P/ASX 200 index settled 3.1% lower at 5,925.5
in broad-based selling. For the week, the benchmark fell 2.4%,
marking its biggest weekly decline since June 12.
Overnight, the tech-heavy Nasdaq Composite slumped
5%, with tech giants Apple and Microsoft
weighing the most.
The U.S. tech sector that has led this amazing rally since
March-lows finally came a little bit unstuck, said Damian
Rooney, director of equity sales at Perth-based investment house
"I think there was a certain inevitability about it and I
wouldn't be surprised to see some more," Rooney said.
Adding to woes, Australia's Victoria state reported a record
59 deaths on Friday, including previously unrecorded deaths in
aged care facilities, while authorities suggested restrictions
in the state may remain even after the current six-week lockdown
comes to an end.
Investors are now awaiting U.S. payrolls figures, due at
1230 GMT, which could trigger further sell-offs if the numbers
miss economists' expectations that about 14 million jobs were
created in August.
Tech stocks were the hardest hit on the Australian
benchmark, falling 5.6% in their biggest daily loss since March
23. Buy-now-pay-later firm Afterpay plunged 6.7%, while
Xero eased 5.7%.
BHP Group eased 3.8% and dragged miners to
a near two-month low as iron ore futures in China snapped a
Financials and healthcare stocks also
declined 3% and 3.8%, respectively.
New Zealand's benchmark S&P/NZX 50 index fell 1.9%
to 11,824.31, after Prime Minister Jacinda Ardern said
coronavirus curbs would stay in place until at least
(Reporting by Arpit Nayak in Bengaluru; Editing by Subhranshu