CANADA STOCKS-TSX dips, giving up earlier gains in range-bound trading

Wed Sep 23, 2015 12:06pm EDT
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(Updates throughout with commentary, details, market reaction)

* TSX down 18.84 points, or 0.14 percent, to 13,472.25

* Eight of the TSX's 10 main groups fall

By Solarina Ho

TORONTO, Sept 23 (Reuters) - Canada's main stock index fell modestly on Wednesday, following hefty losses in the previous session, but many investors shrugged off the latest disappointing economic data out of China and mostly kept to the sidelines.

At 11:22 a.m. EDT (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 18.84 points, or 0.14 percent, to 13,472.25, reversing gains from earlier in the session.

Of the index's 10 main groups, eight were in negative territory. Declining issues outnumbered advancing ones on the TSX by 147 to 88, for a 1.67-to-1 ratio on the downside.

"You would hope for a bit better snap back, but there's nothing on the growth front, so that's the big vexing question right now: where's the growth and when's it going to come?" said John Stephenson, President & CEO at Stephenson & Company Capital Management, noting that volumes were soft as well.

"Until we see an indication that (global growth) is getting much worse, which would not be good for markets, or we see it getting much better, I think we're essential range bound."   Continued...