Australia shares snap 3-day losing streak on commodity gains

* Index rises 1.06 pct

* Up 1.35 pct in April so far, more than 10 pct YTD

* 174 shares up, 19 down, 7 unchanged

* BHP, CBA, Westpac, NAB top movers

* Iluka Resources (Other OTC: ILKAF - news) , Qantas, BoQ, ASX bottom movers (Adds analysis, quotes, stocks on the move)

By Swati Pandey and Naomi Tajitsu

SYDNEY/WELLINGTON, April 16 (Reuters) - Australian shares jumped over 1 percent on Thursday after falling for three straight sessions, led by gains in financials, resources and energy stocks and as bargain hunters emerged at lower levels.

The S&P/ASX 200 index rose 59.4 points to 5,967.8 by 0052 GMT. The benchmark dropped 0.6 percent on Wednesday to its lowest close since April 2, although the index is up more than 9 percent so far this year.

The index, which is within a whisker of a key psychological level of 6,000 points, barely moved this month until Wednesday's close with investors disappointed when the Reserve Bank of Australia left rates unchanged at its April meeting. Weak data from China, Australia's biggest export market, and poor consumer sentiment locally added downward pressure.

Thursday's gains were led by the "Big Four" banks including Commonwealth Bank and Westpac which were up 0.95 percent each while major miner BHP Billiton (NYSE: BBL - news) , up 2.4 percent, and energy companies Santos and Origin Energy also pulled the index higher.

Fortescue rose more than 9 percent after it signalled that it was operating in the black at current market prices.

Nine Entertainment rose to its highest level since May 15 after it signed an agreement to sell its Nine Live business for $640 million.

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New Zealand's benchmark NZX index edged up 5.6 points or 0.1 percent to 5,861.68 in early trade, as gains in Air New Zealand and a recovery in shares which sold off heavily the previous day were offset by losses in health- and dairy-related companies.

The national air carrier rose 1.2 percent after it announced it would begin operating a direct route to Houston next year as it expands further into the U.S.

Outdoor-wear maker Kathmandu jumped 1.5 percent, recovering from a fall to a near three-year low. Wednesday's sell-off on the Australian exchange, where it is also listed, prompted investors to pick up shares on the cheap.

Dairy co-operative Fonterra's share trading fund slid more than 2 percent to a lifetime low of NZ$5.05 after an ongoing fall in global dairy prices at an auction on Wednesday raised concerns about falling demand for dairy products.

Healthcare property investors Vital Healthcare fell 2 percent, while cancer diagnostics Pacific Edge slipped 1.3 percent and healthcare software developer Orion Health Group eased 1.1 percent.