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.
According to Pakistani time, at 11:53, Dassault’s shares saw a decrease of €5.40 or 1.64%, falling to €324.
