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By John Biju

March 10 (Reuters) - Australian shares closed slightly higher on Monday after a four-day losing streak, as gold and mining stocks rose on strong underlying commodity prices.

The S&P/ASX 200 index .AXJO rose 0.2% to 7,962.3, hovering near a six-month low touched on Friday. It has declined nearly 7% from an all-time high scaled on February 14.

Uncertainties regarding global trade and growth have risen as the United States has imposed fresh tariffs on its trading partners including China, leading to a sharp drop in Australian shares last week.

If the market falls further, "we could see the index back to 7,800 before it stabilises and looks attractive. That would be strong support," said Henry Jennings, senior analyst and portfolio manager at Marcustoday Financial Newsletter.

"Banks are not yet at attractive levels and resources remain a bull trap whilst China is continuing to struggle economically," Jennings said.

Latest data from China pointed to further deflationary pressures, although it raised hopes for additional supportive measures from the country to meet its annual growth target. This helped iron ore futures eke out gains. IRONORE/

Australian mining stocks .AXMM climbed 0.9%. BHP Group BHP.AX and Rio Tinto RIO.AX jumped 0.6% and 3.1%, respectively.

Gold stocks .AXGD rose 1.4% after bullion prices gained on a weaker dollar and safe-haven flows, while energy stocks .AXEJ climbed 1.5%. GOL/

Financials inched 0.1% lower, with Commonwealth Bank of Australia CBA.AX and ANZ Group ANZ.AX down 0.2% and 0.6%, respectively.

Financials fell more than 4% last week as their rich valuations made them the prime targets during the market sell-off.

There might be some downside for the big four banks for the time being after Friday's sell-off, said Junvum Kim, Asia Pacific senior sales trader at Saxo Markets.

New Zealand's benchmark S&P/NZX 50 index .NZ50 advanced 0.9% to 12,515.87.

Shares of Fonterra FCG.NZ rose 3.6% after the dairy giant forecast higher annual earnings due to robust volume and margin growth at its consumer operations.

(Reporting by John Biju in Bengaluru; Editing by Subhranshu Sahu)

((John.Biju@thomsonreuters.com;))

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