CANADA STOCKS-TSX hits another record high as festive rally builds

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Dec 27 (Reuters) - Canada’s main stock index rose to another record high on Friday as investors cheered upbeat economic data from China amid growing optimism over an initial U.S.-China trade deal.

* At 9:38 a.m. ET (1438 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was nearly unchanged at 17,176.73, after hitting a record high of 17,230.58 just after the opening bell.

* The index is set for its best year since the global financial crisis, powered by returning confidence in the global economy in the wake of an imminent U.S.-China trade truce and hopes of a smooth Brexit.

* Shares of TC Energy Corp also hit an all-time high as private equity firm KKR & Co Inc and Alberta Investment Management Corp would jointly buy a 65% stake in TC Energy’s Coastal GasLink Pipeline in Canada, KKR said on Thursday.

* The energy sector climbed 0.8% as U.S. crude prices were up 0.1% a barrel, while Brent crude added 0.1%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, rose 0.1%, with gold futures trading flat.

* On the TSX, 121 issues were higher, while 108 issues declined for a 1.12-to-1 ratio favouring gainers, with 14.16 million shares traded.

* The largest percentage gainers on the TSX were Osisko Gold Royalties Ltd and Semafo Inc, which rose about 2% each.

* Hexo Corp fell 16.7% to its lowest level in over two years after it announced a $25 million share offer. Cronos Group Inc, which fell 3.7%, was the second-biggest decliner on the index.

* The most heavily traded shares by volume were Canadian Imperial Bank of Commerce, Aurora Cannabis and Pengrowth Energy. Overall trading volumes are expected to remain low until the first full week of January.

* Fourteen stocks posted new 52-week highs on the TSX, while one touched a new low.

* Across all Canadian issues, there were 105 new 52-week highs and nine new lows, with total volume of 31.13 million shares. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Amy Caren Daniel and Vinay Dwivedi)