© Reuters.
By Ketki Saxena
Investing.com – On the last trading day of the year, Canada’s main stock index the S&P/TSX traded on a moderately positive note, although trading remained thin ahead of the new year.
The will be closed for trading on the January 1st New Year Holiday.
The Canadian index remained on track for a third consecutive week in the green, and set for a nearly 8% yearly gain.
Canadian Tech Outperforms US; Major Economies
The tech index was the strongest performed this year, as markets bet on the Federal Reserve beginning to cut rates next year. Canadian tech stocks are set for a roughly 70% gain this year, outperforming US tech.
Tech stocks in the and the meanwhile notched gains under 60%.
Canadian tech stocks also beat out other major markets, including in the UK, Germany, France, Japan, Korea, Australia and China.
CIBC (TSX:) World markets referred to Canadian tech’s yearly rise as…
