(Adds investor quotes and details throughout; updates prices)

* TSX ends down 1.4%

* Posts its lowest closing level since Sept. 20

* Technology shares fall the most since last November

* Kirkland Lake Gold Ltd ends 7.4% lower

TORONTO, Sept 28 (Reuters) – Canada’s main stock index on Tuesday fell to its lowest level in more than one week as rising global bond yields encouraged investors to sell the shares of technology companies in favor of sectors more sensitive to the economic outlook.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 289.28 points, or 1.4%, at 20,174.14, its lowest closing level since Sept. 20.

“Technology is taking the brunt of the down move in both Canada and the U.S.,” said Mike Archibald, a portfolio manager at AGF Investments.

“You’ve seen a pretty significant move up in 10-year yields globally in the last several days and that’s really driving a change in investor preferences to more economically sensitive parts of the market.”

The information technology group lost 3.8%, its biggest decline since last November, as the U.S. 10-year yield climbed to its highest level since June at 1.567%.

Shares of Shopify Inc, the company with the highest market value on the TSX, ended 4.8% lower.

Higher yields reduce the value of future cash flows so they particularly hurt the shares of companies with high growth prospects.

Canada’s benchmark stock index is down about 2% so far in September after seven consecutive monthly gains.

Kirkland Lake Gold Ltd fell 7.4% after Agnico Eagle Mines Ltd agreed to buy the miner in a stock deal valued at C$13.51 billion ($10.68 billion).

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9%, while energy was nearly unchanged.

U.S. crude oil futures climbed to the highest level since July before settling down 0.2%. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; Editing by Marguerita Choy)