Stocks of JF-17 and J-10C Maker Soar, Dassault Aviation’s Shares Crash Like Rafale Jets

The shares of Chengdu Aircraft Corporation (CAC) at Shenzhen Stock Exchange (SZSE) jumped by 11.85 points after news of Pakistan shooting down India’s French-made 4.5th generation Dassault Rafale fighter aircraft in last night’s attack. CAC is a Chinese aerospace conglomerate that designs and manufactures combat aircraft. It makes the J-10 and JF-17 fighter jets for the Pakistan Air Force. At 9:45 AM Pakistani time, the company’s shares at SZSE China stood at CNY 71.08, up CNY 11.9 or 18 percent. At 11:45 AM PKT, the share was still in green and trading at CNY 69.42, up CNY 10.19 or 17.17 percent. At 11:51 AM PKT, it was trading at CNY 68.88, up 16.29 percent or CNY 9.65. Meanwhile, the shares of France’s Dassault Aviation fell sharply by over 5 percent at the time of press. News of Pakistan Air Force (PAF) striking down up to six Rafale combat jets broke the grit of Dassault Aviation at the Paris Stock Exchange (AM.PA). At 11:53 AM Pakistan time (PKT), it was down by EUR 5.40 or 1.64 percent at EUR 324. At the time of the Indian breach, Pakistan’s Defense Minister confirmed that five Indian fighter jets had been shot down.