(Reuters) - Canada’s main stock index retreated from a record high on Friday, as heightening diplomatic tensions between the United States and China sparked fears of a setback in trade negotiations between the two sides.
* At 10:01 a.m. ET (1501 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 17.48 points, or 0.1%, at 17,097.04.
* China on Thursday warned of “firm counter measures” to a U.S. law backing protesters in Hong Kong. The editor of China’s state-backed Global Times tabloid said later in a tweet these could include barring drafters of the legislation from mainland China, Hong Kong and Macau.
* Meanwhile, data on Friday showed the Canadian economy expanded at an annualized rate of 1.3% in the third quarter, nearly echoing analysts’ expectations ahead of next week’s Bank of Canada rate decision.
* The energy sector dropped 0.9% as U.S. crude prices were down 2.7% a barrel, while Brent crude lost 1.8% ahead of an OPEC meeting over Dec. 5-6.
* The industrials sector fell 0.2%.
* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1% as gold futures rose 0.1% to $1,454.6 an ounce.
* On the TSX, 107 issues were higher, while 118 issues declined for a 1.10-to-1 ratio to the downside, with 32.12 million shares traded.
* The largest percentage gainers on the TSX were Gildan Activewear and Turquoise Hill Resources, which jumped 3.5% and 1.6%, respectively.
* Aurora Cannabis fell 4.3%, the most on the TSX, while the second biggest decliner was Canopy Growth Co, down 3.3%. Both stocks had been among the biggest gainers in the previous session.
* The most heavily traded shares by volume were Husky Energy, Zenabis Glbl Inc and Aurora Cannabis.
* Nine stocks on the TSX posted new 52-week highs, while there were no new lows.
* Across all Canadian issues there were 54 new 52-week highs and eight new lows, with total volume of 52.79 million shares.
Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Rashmi Aich