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J&T Express (1519): announced its operating data for the first quarter of 2026. The total parcel volume reached 8.326 billion pieces, a year-on-year increase of 26.2%. The average daily parcel volume climbed to 92.5 million pieces. Performance varied across business segments, with the Southeast Asian market showing the strongest growth, with parcel volume surging 79.9% year-on-year to 2.768 billion pieces, mainly driven by the Ramadan shopping festival and increased promotions from e-commerce platforms. Parcel volume in newly developed markets also more than doubled, particularly in Brazil and Mexico. In contrast, growth in the Chinese market was relatively stable, with parcel volume increasing by 8.4%. The company is working to improve individual operational efficiency and unit profitability by optimizing its network structure and reducing the number of branches.

Exports were impacted by a high base from last year and the premature consumption of demand

Due to the high base from last year and the premature consumption of demand, the year-on-year growth rate of exports fell significantly to 2.5%, with exports to the US declining by 26.5%. However, the export structure continued to optimize, with integrated circuits (ICs) surging by 84.9%, and automobiles and ships maintaining strong performance, supporting the leading position of technology-intensive products. Imports, on the other hand, performed exceptionally well, surging by 27.8% year-on-year, reflecting a trend of improvement in domestic demand. Notably, imports from the US turned positive for the first time in 13 months, and demand for grains and iron ore was strong. Despite the significant decline in the trade surplus, the confirmed recovery in domestic demand and the upgrading of export industries are expected to support the continued growth momentum of the Chinese economy this year.

The net outflow of Hong Kong Stock Connect on Tuesday was 2.017 billion RMB. Among them, Bubble Mart (09992) had the largest inflow, reaching 411 million Hong Kong dollars; followed by China National Offshore Oil Corporation (00883). Tracker Fund (02800) recorded the largest net outflow of HK$3.161 billion; followed by China Mobile (00941).