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.

Sensex, Nifty Likely To Open On Muted Note

Indian shares look set to open on a flat note on Tuesday, tracking muted cues from global markets.

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Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday after opening in the green, reversing some of the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling below the 43,500 level, with weakness in index heavyweights and financial stocks partially offset by gains in automakers and exporters.

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Thai Shares May Take Further Damage On Tuesday

The Thai stock market has finished lower in three straight sessions, slipping more than 35 points or 3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,240-point plateau and it may extend its losses on Tuesday.

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Little Movement Seen For Indonesia Stock Market

Ahead of Monday's holiday for Independence Day, the Indonesia stock market had snapped the five-day winning streak in which it had surged more than 440 points or 5.8 percent. The Jakarta Composite Index now sits just beneath the 7,900-point plateau and it's likely to remain stuck in neutral again on Tuesday.

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Soft Start Expected For Hong Kong Stock Market

The Hong Kong stock market has moved lower in three straight sessions, slumping more than 430 points or 1.5 percent along the way. The Hang Seng Index now rests just above the 25,175-point plateau and it may continue to sputter on Tuesday.

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Australian Market Significantly Lower

The Australian stock market is trading significantly lower on Tuesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,900 level, with weakness in gold miners and energy stocks partially offset by gains in iron ore miners and financial stocks.

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China Shares Tipped To Open In The Red

The China stock market has moved higher in two straight sessions, advancing more than 60 points or 1.7 percent along the way. The Shanghai Composite Index now sits just beneath the 3,730-point plateau although it may had back those gains on Tuesday.

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Taiwan Stock Market May Spin Its Wheels On Tuesday

The Taiwan stock market has tracked higher in back-to-back sessions, gathering almost 250 points or 1 percent along the way. The Taiwan Stock Exchange now sits just above the 24,480-point plateau although it may be stuck in neutral on Tuesday.

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EURUSD	1.16511	GBPUSD	1.34975	AUDUSD	0.64898
USDJPY	147.791	USDCAD	1.381	USDCHF	0.80777