Following Pakistan Air Force’s successful downing of Indian aircraft, shares in the Chinese companies that manufacture JF-17 Thunder and J-10C jets saw a significant rise.
On the night of May 6, Indian Air Force launched attacks on six different locations in Pakistan, killing 26 people and injuring 46, with mosques being among the targets. In response, the Pakistan Air Force (PAF) shot down five Indian aircraft, including three Rafales, a Mig-29, and a Sukhoi fighter jet.
The downing of these aircraft, particularly the Rafales, resulted in an 18.18% increase in shares of Chengdu Aircraft Industry Group, the Chinese manufacturer of J-10C and JF-17 Thunder jets.
On the other hand, shares of Dassault Aviation, the French company responsible for manufacturing Rafale jets, saw a significant decline following the destruction of its aircraft. The negative trend in Dassault’s stock was noted in European markets and is being attributed to the failure of the Rafale jets in the recent conflict.
The Rafale is considered one of the most advanced fighter jets in the world and is a key asset of the Indian Air Force. The setback has led to concerns over the aircraft’s performance in combat situations.
