Chengdu Aircraft Shares Surge 20% After Pakistan Downs Indian Jets with J-10C and JF-17

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Updated May 7, 2025, 02:29 PM

Shares of Chengdu Aircraft Corporation (CAC), a manufacturer of J-10C and JF-17 fighter jets used by the Pakistan Air Force, surged by up to 20% in the Shenzhen stock market, hitting the daily limit, following reports that Pakistan downed several Indian fighter jets, including three Rafales. The stock rally was attributed to the reported effectiveness of the Chinese-made aircraft in the aerial confrontation between India and Pakistan. Reports vary on the number of Indian jets downed, with claims ranging from three to five aircraft. The incident has sparked speculation that the Chinese systems, specifically the J-10C and PL-15 missiles, were used in the clash, contributing to the surge in Chinese defense stocks amid rising tensions between India and Pakistan. Pakistan, a major buyer of Chinese weapons, further highlights the significance of Pakistan's use of Chinese weaponry in this conflict.

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Sources

Iran Observer

@IranObserver0

⚡️BREAKING Pakistani media reports that the Indian fighter jets were shot down by J-10c and PL-15 missiles acquired from China Chinese company Chengdu Aviation's stocks rose by almost 20% https://t.co/dNq7ulC1rT

Insider Paper

@TheInsiderPaper

JUST IN - Shares of China defense firms surged amid rising India-Pakistan war tensions. Pakistan, a major buyer of Chinese weapons like the J-10C jet, claimed to have downed 5 Indian aircraft, prompting speculation that Chinese systems were used in the clash, Bloomberg reports

Murtaza Hussain

@MazMHussain

Chinese defense stocks rose sharply after display of apparent efficacy in India-Pakistan aerial confrontation. Pakistan and China jointly produce several aircraft. https://t.co/OBJ8fWRd4Y