TSX Rises 1.5% As Stocks Rebound On Bargain Hunting

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(RTTNews) - The Canadian market ended on a buoyant note on Wednesday, with stocks rebounding from previous session's losses, thanks to hectic bargain hunting. Positive lead from U.S. and European markets helped as well.

The benchmark S&P/TSX Composite Index ended with a gain of 304.43 points or 1.48% at 20,889.40.

Technology, industrials and consumer staples shares rose sharply. Several stocks from real estate, financials, consumer discretionary, utilities and healthcare sectors also posted strong gains. Materials stocks closed mixed, while energy stocks failed to find support as oil prices dropped.

The Information Technology Capped Index climbed more than 3%. Hut 8 Corp (HUT.TO) soared 19.4%, and Bitfarms Ltd (BITF.TO) zoomed 15.5%. Sylogist (SYZ.TO) surged 5.8%, while Shopify Inc (SHOP.TO), Celestica Inc (CLS.TO), Computer Modelling (CMG.TO), Constellation Software (CSU.TO), Dye & Durham (DND.TO) and Docebo Inc (DCBO.TO) gained 3 to 4.2%.

In the industrials sector, Bombardier Inc (BBD.B.TO) rallied 6.2%. Toromont Industries (TIH.TO) gained 5.4%, while Waste Connections (WCN.TO), Russel Metals (RUS.TO), Ballard Power Systems (BLDP.TO), Cargojet (CJT.TO), WSP Global (WSP.TO) and Air Canada (AC.TO) surged 3.2 to 4.7%.

Consumer staples stock Alimentation Couche-Tard (ATD.TO) advanced more than 4.5%. Metro Inc (MRU.TO), George Weston (WN.TO) and Loblaw (L.TO) gained 2 to 2.3%.

Crombie Real Estate Investment Trust (CRR.UN.TO), the top gainer in the real estate sector, climbed 4.7%. Killam Apartment (KMP.UN.TO), Riocan Real Estate (REI.UN.TO) and Choice Properties (CHP.UN.TO) gained 3 to 3.3%.

Among financials shares, goeasy (GSY.TO) climbed 8%. Fairfax Financial Holdings (FFH.TO), CDN Western Bank (CWB.TO), Onex Corp (ONEX.TO), EQB Inc (EQB.TO), Nuvei Corp (NVEI.TO), Bank of Montreal (BMO.TO), Royal Bank of Canada (RY.TO) and Manulife Financial (MFC.TO) gained 1.8 to 2.75%.

CAE Inc (CAE.TO) tanked nearly 10% after the company reported a drop in third-quarter operating income. The company reported operating income of $121.6 million for the third quarter, down from $142.1 million in the year ago quarter.

On the economic front, data from Statistics Canada showed car registrations in Canada dropped to 128,193 units in December from 143,723 units in November.

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming its early losses in mid-market moves on Thursday, but adding to the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,900 level, with gains in iron ore miners and financial stocks partially offset by weakness in technology stocks.

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Asian Markets Trade Mostly Higher

Asian markets are trading mostly higher on Thursday, following the mixed cues from Wall Street overnight, amid optimism about a potential trade deal between the U.S. and China as US President Donald Trump and Chinese President Xi Jinping meet. Traders also react to another quarter point interest rate cut by the US Fed. Asian markets closed mostly higher on Wednesday.

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Sensex, Nifty Seen Lower At Open As Trump-Xi Meeting Begins In South Korea

Indian shares may open a tad lower on Thursday, tracking mixed cues from global markets.

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Japanese Market Modestly Lower

The Japanese market is modestly lower in choppy trading on Thursday, reversing some of the sharp gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well below the 51,150 level, with weakness in index heavyweights and automaker stocks partially offset by gains in financial and technology stocks.

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China Bourse May Slip Beneath 4,000-Point Level

The China stock market bounced higher again on Wednesday, one day after ending the three-day winning streak in which it had collected more than 80 points or 2 percent. The Shanghai Composite Index now sits just above the 4,015-point plateau although it may head south again on Thursday.

RTTNews | 3घंटे 3 मिनट पहले

Australian Market Modestly Lower

The Australian market is trading modestly lower on Thursday, adding to the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,900 level, with gains in iron ore miners and financial partially offset by weakness in technology stocks.

RTTNews | 3घंटे 11 मिनट पहले

Taiwan Bourse May Remain Rangebound On Thursday

The Taiwan stock market has moved higher in two of three trading days since the end of the two-day slide in which it had slumped more than 220 points or 0.8 percent. The Taiwan Stock Exchange now sits just shy of the 28,300-point plateau although it may tick lower again on Thursday.

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Singapore Shares May See Continued Consolidation

The Singapore stock market on Wednesday snapped the six-day winning streak in which it had jumped more than 120 points or 2.9 percent. The Straits Times Index now sits just above the 4,440-point plateau and it may take further damage on Thursday.

RTTNews | 4घंटे 3 मिनट पहले

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