HK Stock Market Move | J&T EXPRESS-W (01519) rose over 5% in the afternoon; the company has been continuously repurchasing shares since early September, with cumulative amount exceeding HK$500 million.

J&T EXPRESS-W (01519) rose over 5% in the afternoon. As of press time, it was up 5.09% at HK$8.98, with a turnover of HK$203 million. On the news front, an announcement from J&T Express showed that on October 5, the company repurchased 4.64 million shares for HK$39.654 million. Since September 1, the company has repurchased shares for 24 consecutive trading days, totaling 56.4426 million shares, with a cumulative repurchase amount of HK$510 million. In addition, J&T's transfer center in Hengyang, Hunan Province, has recently commenced operations, becoming the group's first customized regional hub in Hunan. CLSA recently issued a research report stating that competition in the mainland express delivery industry is expected to remain intense. J&T Express is seeing orderly volume growth in Southeast Asia and Latin America, and the company aims to achieve EBIT per unit of US$0.07 in both regions in the long term. With improving visibility of overseas growth and the domestic business expected to strengthen, J&T remains the brokerage's top pick in the sector.