ISLAMABAD: The shares of Chengdu Aircraft Corporation (CAC) at Shenzhen Stock Exchange (SZSE) surged by 17 per cent in a few hours, while Rafale company share price is going down after Pakistan’s reports of downing five Indian aircrafts, according to local media reports.
In contrast, shares of Dassault Aviation—the French company that manufactures the Rafale jets used by the Indian Air Force—declined on Wednesday.
Pakistan’s Defence Minister Khawaja Asif confirmed that five Indian aircraft were downed in response to India’s late-night airstrikes. Among the jets reportedly shot down were three Rafales, dealing a blow to the Dassault Aviation stock.
Meanwhile, CAC, which produces the JF-17 Thunder and J-10 aircraft operated by the Pakistan Air Force, saw its stock rise by 17.05% by the close of trading on Wednesday.
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