* Mining sector hits lowest since Sept. 4
* Gold stocks fall as bullion prices drop
* NZ rises
Sept 22 (Reuters) - Australian shares on Tuesday hit a more
than three-month low, pressured by miners and energy stocks, due
to overnight Wall Street losses as possible delays in fresh
stimulus raised concerns about a longer recovery path for the
The S&P/ASX 200 benchmark index slid 0.6% to
5,790.10 by 0034 GMT, after falling 0.9% to hit its lowest since
June 16 earlier. It lost 0.7% in the previous session.
Wall Street's main indexes closed lower on Monday over the
possibility of delays in fresh stimulus from Congress following
the death of U.S. Supreme Court Justice Ruth Bader Ginsburg.
Congress has for weeks remained deadlocked over the size and
shape of another coronavirus-response bill, on top of the
roughly $3 trillion already enacted into law.
Concerns about new lockdowns in Europe and the UK also
spurred fears of obstruction to a nacent recovery in the global
economy and further pressure to equity markets.
In local trade, a fall in ironore prices knocked the
Australian mining index down as much as 2.5% to its
lowest level since Sept. 4.
Major miners BHP Group and Rio Tinto both
fell around 2%.
Gold stocks fell 3.3% to their lowest since Sept.
14, following a decline in bullion prices.
SSR Mining lost over 10%, while Pantoro Ltd
fell as much as 5%.
Energy stocks declined almost 2% to a near
five-month low, as oil prices fell, hurt by a dim outlook for
global demand as COVID-19 cases increase.
Santos fell as much as 2.9% to a one-week low,
while Oil Search hit its lowest since May 14.
In New Zealand, the benchmark S&P/NZX 50 index rose
0.43% to 11,589 after earlier hitting its lowest since Aug. 17.
The top percentage gainers were Ryman Healthcare Ltd
, up 3.11%, followed by Fisher & Paykel Healthcare
Corporation Ltd, gaining 2.28%.
(Reporting by Nikhil Subba in Bengaluru; Editing by Rashmi