HK Stock Market Move | J&T EXPRESS-W(01519) rose nearly 6% in early trading, signing a memorandum of cooperation with the Saudi Jubeir and Yanbu Royal Commission.

J&T EXPRESS-W (01519) rose nearly 6% in early trading, as of the time of writing, it was up 5.03% at 5.85 Hong Kong dollars, with a turnover of 26.1541 million Hong Kong dollars. On the news front, J&T Express recently announced the signing of a logistics services memorandum of understanding with the Saudi Arabia Jubeil and Yanbu Royal Commission, formally establishing a partnership to promote the logistics and supply chain development in Saudi Arabia. The two sides will deepen cooperation within the economic zones under the jurisdiction of the Jubeil and Yanbu Royal Commission, utilizing J&T's technology and experience in the express logistics field to empower the development of logistics infrastructure in the economic zones, and attract more e-commerce and logistics industries to local deployment. It is worth noting that on May 8th, J&T Express announced the completion of a significant milestone, where Edvance Capital and a Middle Eastern consortium jointly injected tens of millions of dollars into the company. BOCI International stated that this capital injection will help J&T deepen its international presence, and accelerate its penetration into the Middle Eastern market.