WEB DESK: Stock of Chengdu Aircraft Corporation (CAC), the manufacturer of the JF-17 and J-10C fighter jets, has experienced a significant increase following recent military tensions between India and Pakistan.
Shares listed on the Shenzhen Stock Exchange (SZSE) surged by approximately 63% over the past week, reflecting investor optimism amid escalating regional conflict.
As of 9:45 AM Pakistani local time today, CAC’s shares reached CNY 95.86, up CNY 16 or roughly 20% from previous levels. This jump comes after reports that Pakistan’s military claimed to have shot down an Indian Dassault Rafale fighter jet during recent hostilities.
In contrast, shares of Dassault Aviation, the French manufacturer of the Rafale fighter, declined by about 3.44%, or EUR 11.2, bringing the stock price to EUR 314.6 as of the latest trading close on May 9.
The Indian Air Force (IAF) acknowledged losses during the recent air combat but did not specify the extent of damages, only stating that “losses are part of combat.”
The ambiguity surrounding the incident has led to widespread speculation that the IAF suffered significant asset losses, including the possible downing of Rafale jets.
