Chengdu Aircraft shares soar after Pakistan downs 5 Indian jets, including Rafale

The Chinese aerospace manufacturer, which co-produces the JF-17 Thunder jet with Pakistan and manufactures the J-10C fighter used by the Pakistan Air Force, saw its stock climb from 18.5 to 21.56 yuan in the early hours of trading on Wednesday.

The surge in the share price of Chengdu Aircraft Industry Group was buoyed by rising investor confidence following Pakistan’s downing of five Indian jets — including a French-made Rafale — in a dramatic military response overnight.

Market analysts pointed this move as a confidence of investor and strategic defense strength of the company.

Meanwhile, Dassault Aviation SA — the French defense firm behind the Rafale jet — faced early losses on the Paris exchange, reflecting investor concern over the reported aircraft loss.