(Updates with market opening prices)

By Nikhil Sharma

Jan 20 (Reuters) - Canada's main stock index climbed to

a five-week high on Monday ahead of Donald Trump's inauguration

as U.S. president, with markets expecting the incoming

administration to go easy on tariff pledges.

The Toronto Stock Exchange's S&P/TSX composite index

was up 0.6% at 25,217.78, and was trading at its

highest since Dec. 16.

U.S. markets were closed for Martin Luther King Jr. Day,

keeping trading volumes lighter than usual.

Donald Trump will be sworn in as U.S. president at 12:00

p.m. ET in a highly anticipated global event, with particular

focus on the slew of executive actions concerning immigration,

energy and tariffs that he has pledged to sign on day one.

Giving some relief to investors, a Wall Street Journal

report said Trump will stop short of imposing new tariffs on key

trading partners on his first day in office.

"Not everything that he (Trump) said has come to play out

exactly as he commented or as the rhetoric has suggested," said

Josh Sheluk, portfolio manager at Verecan Capital Management.

"He understands that blanket 25% tariffs on everything would

be probably very problematic or maybe catastrophic for

economies, including the U.S."

All major sectors on the index logged gains. Industrials

led the charge, adding 1.2%, with business jet maker

Bombardier jumping 6.2% to the top of the TSX.

Heavyweight energy advanced 1.1%, while materials

added to the gains with a 0.6% jump.

Meanwhile, the Canadian dollar was trading 1.3%

higher against the U.S. dollar, on track for its best day in

over two years.

Canada has been at the epicenter of Trump's tariff threats,

as he pledged to impose a 25% tariff on imports from the

country, a key trading ally that sends a majority of exports

across the border.

Among other stocks, Kits Eyecare ( KTYCF ) rose 2.3% after

the eyecare provider reported 42% growth in its fourth-quarter

revenue.