(Adds portfolio manager, updates prices)
* TSX up 40.57 points, or 0.3 percent, to 13,671.24
* Seven of the TSX's 10 main groups rise
By Alastair Sharp
TORONTO, Sept 9 (Reuters) - Canada's main stock index rose
on Wednesday, encouraged by the prospect of further stimulus out
of Asia as Canada's central bank held rates steady.
China's Finance Ministry said it would strengthen fiscal
policy, boost infrastructure spending and speed up tax reform,
helping lift Chinese shares for a second day.
"What happened in China was looked on as somewhat bullish,"
said John Kinsey, a portfolio manager at Caldwell Securities.
"Hopefully we're going to have some semblance of order in
the market now, and gradually it will work its way higher."
Japan's prime minister, Shinzo Abe, said his country would
cut corporate taxes to stimulate growth, which also aided
sentiment. ID:nL4N11D3H5
At 11:23 a.m. ET (1523 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 40.57 points, or 0.3
percent, to 13,671.24. Of the index's 10 main groups, seven were
in positive territory.
Four of the five most influential movers on the index were
financial stocks, with Royal Bank of Canada RY.TO rising 1.0
percent to C$73.15, and Manulife Financial MFC.TO advancing
1.7 percent to C$20.75. The overall group climbed 0.6 percent.
"We look on them as a safe haven and an income producer,"
Kinsey said on Canada's banks.
On the downside, gold miners were among the heaviest
weights, with Goldcorp G.TO off 2.7 percent to C$17.06, and
Barrick Gold Corp ABX.TO declining 1.7 percent to C$8.45.
The overall materials group retreated 0.6 percent.
Gold futures GCc1 fell 1.0 percent to $1,109.3 an ounce.
GOL/
Kinsey said U.S. stocks are more attractive than domestic
holdings despite the currency costs as the U.S. recovery is more
advanced.
(Editing by James Dalgleish)