India’s Rafale falls: Pakistan-backed JF-10C shares take flight

During the Pakistan-India tensions, after being targeted by the Pakistan Army, the shares of the French company “Dassault Aviation,” which manufactures Rafale jets, plummeted, while there was a significant increase in the shares of the company that produces the JF-17 and J-10C.

Following the news from Pakistan last night about the downing of India’s French-made 4.5-generation fighter jet “Dassault Rafale,” the shares of China’s aerospace company “Chengdu Aircraft Corporation” surged by 11.85 points on the Shenzhen Stock Exchange.

Chengdu Aircraft Corporation is a renowned Chinese aerospace organization that designs and manufactures fighter jets. It produces the J-10 and JF-17 jets for the Pakistan Air Force.

According to Pakistani time, at 9:45 AM, the Chinese company’s shares reached 71.08 yuan, recording an increase of 11.9 yuan or 18%. At 11:45 AM, the company’s shares were still in the green zone, trading at 69.42 yuan, indicating an increase of 10.19 yuan or 17.17%.

At 11:51 on the same day, the shares were at 68.88 yuan, reflecting an increase of 9.65 yuan or 16.29%. On the other hand, the shares of the French defense company “Dassault Aviation,” which manufactures Rafale fighter jets, faced a sharp decline on the Paris Stock Exchange.

Reports of multiple Rafale jets being shot down by the Pakistan Air Force directly impacted the company’s shares negatively.