Nov 9 (Reuters) - Canada's main stock index hit a two-month high on Monday after drugmaker Pfizer said its experimental COVID-19 vaccine was more than 90% effective and as hopes of more stimulus under U.S. President-elect Joe Biden also boosted sentiment.

* At 9:32 a.m. ET (1432 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 395.17 points, or 2.43%, at 16,678. (Reporting by Shashank Nayar in Bengaluru; Editing by Amy Caren Daniel)