Auto & Transport Roundup: J&T, China Merchants, Geely market moves

J&T Global Express’s robust parcel-volume growth across Southeast Asia and newly entered markets has drawn positive analyst attention, with Nomura and Citi highlighting the segment as a near-term earnings driver. Market commentary points to faster-than-expected volume gains in Southeast Asia that offset softer China performance.

Citi upgraded its 2025–2027 forecasts for J&T and lifted its target price, keeping the stock as a sector top pick on expectations that new markets—such as parts of Latin America and the Middle East—will become incremental profit contributors. Nomura also raised estimates to reflect stronger Southeast Asian margins, noting a meaningful pickup in non-platform parcel volumes. These broker notes influenced intraday trading and short-term investor positioning.

On the auto side, HSBC Global Research raised 2025 earnings estimates for Geely, citing a favorable new-model cycle, improved product mix and economies of scale that could support better margins. Commentary across Market Talk editions also flagged that China's EV sector concentration remains high, with the top ten players controlling roughly 77% of market share—an arrangement that tempers near-term consolidation prospects.

For markets, analyst upgrades and target-price increases pressured some names higher while others under review saw increased volatility. The divergence between export-exposed manufacturers and firms with strong domestic or Southeast Asian exposure created a differentiated sector performance; logistics names with solid e-commerce partnerships attracted buying interest, whereas some automakers faced margin compression from domestic price competition.

In a broader economic context, the move by logistics and auto players to diversify geographic exposure aligns with efforts to mitigate China-centric demand swings and policy-induced price pressures. Investors are watching how capacity adjustments, pricing discipline and strategic partnerships will influence earnings trajectories across the supply chain.

Analysts say near-term outcomes will hinge on upcoming quarterly trading updates, model rollouts and the pace of volume recovery in new markets. Market participants should monitor company-level guidance and brokerage revisions for clearer signals on earnings momentum and sector consolidation trends in the months ahead.