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HONG KONG/JAKARTA — J&T Global Express, a pan-Asian courier service unicorn with Indonesian roots, made a lackluster debut on the Hong Kong Stock Exchange on Friday, closing unchanged from its initial public offering price of 12.0 Hong Kong dollars a share.
Trading remained within a narrow range between HK$11.80 and HK$12.20 throughout the session, far outpaced by the benchmark Hang Seng Index’s 2.07% gain to 17,398.73. J&T Global’s trading volume and value were both relatively subdued and failed to make the top 50 list, an uncommonly poor performance for an opening day.
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