China’s blue chips reverse gains to end lower after mixed data

China’s blue-chip index reversed earlier gains to end lower, weighed down by healthcare and consumer stocks, and after data showed the country’s exports growth slowed in October.

The blue-chip CSI300 Index fell 0.15 percent to 4,048.01 points, before climbing to a 27-month high, while the Shanghai Composite Index advanced 0.06 percent to 3,415.46 points.

China’s exports and imports growth eased in October in a sign the world’s second-largest economy is starting to cool after a strong first half, with momentum seen slackening further as the government’s crackdown on pollution hits factory output.

“The big picture is that both outbound and inbound shipments have softened recently, a trend that continued last month,” Capital Economics China economist Julian Evans-Pritchard wrote in a note.

The latest trade numbers suggest that China’s recovery is starting to show signs of fatigue after economic growth slowed slightly in the third quarter, but still remains robust. Sector performance was mixed on Wednesday. Banking and materials shares pared earlier gains to end higher.

Healthcare firms led the decline with a 1.5 percent drop, after data showed foreign investors pocketed gains in leading medical stocks via the stock connects linking the mainland and Hong Kong, including Jiangsu Hengrui Medicine.

But China’s brokerage stocks rallied, as market participants expect those firms to benefit from the run-up in the stock market, and as the Chinese government plans to ease foreign holdings for securities ventures.