China A-shares Mixed; Uber to Cut 10% Staff

The divergent moves in Chinese equities, with tech lagging while biotech and select sectors climb, suggest rotation rather than broad sentiment shift, even as the services PMI points to resilient domestic activity. Uber's staffing cut, though a US story, may signal cost discipline that could echo across global tech and gig-economy names, potentially influencing risk appetite in Asian markets. What matters next is whether services employment momentum holds and if tech weakness in Hong Kong spreads or remains sector-specific.