Shares of Chinese JF-17 Manufacturer Surge After Pakistan Downs 3 Indian Rafales
The manufacturer of the Rafale jets, Dassault’s stock declined by about 1.64% to 6%, with some reports noting a drop of EUR 5.40 per share.
Shares of Chinese jet manufacturer Chengdu Aircraft Corporation (CAC), which produces the JF-17 Thunder and J-10C fighter jets used by the Pakistan Air Force (PAF), soared significantly following reports that Pakistan downed multiple Indian jets, including three Rafale fighter jets.
CAC’s shares surged by approximately 18.18%, reflecting strong investor confidence in the performance and capabilities of the Chinese-made jets amid the recent military confrontation.
In stark contrast, shares of France’s Dassault Aviation, the manufacturer of the Rafale jets operated by the Indian Air Force, fell sharply. Dassault’s stock declined by about 1.64% to 6%, with some reports noting a drop of EUR 5.40 per share.
This decline is attributed to concerns over the Rafale’s battlefield performance and the reported losses of Indian Rafale jets during the air combat with Pakistan.
The Pakistani military confirmed that five Indian jets were shot down, including three Rafales, a MiG-29, and an SU-30, along with some drones, while all Pakistani jets returned safely.
This outcome has led to renewed debate and scrutiny over the combat readiness and reliability of India’s Rafale fleet, while bolstering the reputation of the JF-17 and J-10C jets and their manufacturers
