CANADA STOCKS-TSX tumbles as resource prices slide

Tue Jan 12, 2010 4:10pm EST
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TORONTO Jan 12 (Reuters) - Toronto's main stock index fell hard on Tuesday as resource prices came under pressure on news that China's central bank was tightening monetary conditions at a faster than expected pace.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE unofficially ended down 126.46 points, or 1.06 percent, at 11,820.67. Nine of the index's 10 main groups were lower, led by a 2.95 percent fall in materials and a 1.33 percent tumble in energy.

China surprised markets with an unexpected increase in banks' required reserves, a move that rippled across world financial markets. (Reporting by Ka Yan Ng; editing by Rob Wilson)