If it is one of the standard Chinese trolley jacks, of which there are many exploded parts diagrams online, there is a spring and ball in a hole in the main valve body. You remove the blanking screw from the hole to access the ball and spring.
If cleaning out the hole and seat etc does not cure the problem, sometimes the ball can be reseated by putting it in place on the seat and tapping it sharply with a hammer and brass drift.
Otherwise you might need to recut the seat with a suitable cutter, depending if it is a flat or cupped seat. A ball bearing silver soldered to a piece of rod can make a lapping tool to use with fine grinding paste also.
Also check that the ball has no blemishes from corrosion and replace it if not perfect. A powerful glass is needed for inspection as any tiny blemish will leak.
I have a collection of trolley jacks, dating back as far as WW2, and they are quite interesting pieces of equipment if you sit down and study them. Their restoration can provide many hours of challenging but pleasureable work .