Jan 17 (Reuters) - Canada’s main stock index hit another all-time high on Friday, tracking gains in global equities, as upbeat Chinese economic data pointed to signs of stabilization in the world’s second-largest economy.
* At 9:46 a.m. ET (1446 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 41.83 points, or 0.24%, at 17,526.6. The benchmark is set to post its second straight weekly gain.
* Economic growth in China slowed to a 29-year low of 6.1% in 2019, dragged by anemic domestic demand and the Sino-U.S. trade war.
* But the data reinforced recent signs of an improvement in Chinese business confidence as trade tensions eased after Beijing and Washington signed an initial deal on Wednesday to defuse their tariff war.
* A revival in the Canadian economy may already be underway, according to a Reuters poll of economists, who were mostly confident a rate cut was not needed and so predicted monetary policy would remain unchanged this year.
* The materials sector, which includes precious and base metals miners, ticked up 0.1% as gold prices rose and copper prices remained near eight-month highs.
* On the TSX, 141 issues were higher, while 83 issues declined for a 1.70-to-1 ratio favouring gainers, with 22.78 million shares traded.
* The largest percentage gainers on the TSX were Norbord Inc , which jumped 4.9%, followed by shares of Interfor Corpora, which rose 4.6%.
* Hexo Corp fell 6.1%, the most on the TSX, followed by shares of Aurora Cannabis, down 3.9%.
* Cannabis producers have posted solid gains so far this week.
* The most heavily traded shares by volume were Bombardier , Aurora Cannabis and Hexo Corp.
* The TSX posted 24 new 52-week highs and no new low.
* Across all Canadian issues there were 137 new 52-week highs and eight new lows, with total volume of 35.42 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Aditya Soni)