The shares of Chengdu Aircraft Corporation (CAC) at Shenzhen Stock Exchange (SZSE) jumped by CNY 36 in one week since news of Pakistan shooting down India’s French-made 4.5th generation Dassault Rafale fighter aircraft.
Since May 5, CAC’s shares have surged by 63 percent while Dassault Aviation’s shares are down 3 percent in the past week.
At 9:45 AM Pakistani time today, Chengdu’s shares at SZSE China stood at CNY 95.86, up CNY 16 or 20 percent.
Meanwhile, Dassault’s stock price is down 3.44 percent or EUR 11.2 at EUR 314.6 (At close: May 9 at 5:35:23 PM GMT+2).
During Sunday’s joint press conference by India’s defence officials, the Indian Air Force (IAF) acknowledged the loss of assets during air combat, including Rafale jets, without disclosing specific details.
The Indian Defence Ministry has so far remained tight-lipped on the exact toll taken by its premature operation, but its use of the phrase “losses are part of combat” has been widely interpreted as confirmation that the IAF suffered horribly, including the loss of Rafale fighter jets.