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3d ago

Chinese Defense Stocks Surge 36% as India-Pakistan Tensions Escalate

India's Operation Sindoor, its first tri-service precision strike since 1971, and Pakistan's reported deployment of Chinese-made fighter jets have intensified regional conflict and driven market shifts.

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Chinese foreign ministry spokesperson Lin Jian attends a press conference in Beijing.
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Overview

  • India conducted Operation Sindoor on May 7, targeting nine terror hubs in Pakistan and Pakistan-occupied Kashmir, marking its first joint precision missile operation since 1971.
  • Pakistan's Foreign Minister claimed the use of Chinese-made J-10C jets in air clashes with India, though India dismissed reports of its jets being downed as disinformation.
  • Shares of AVIC Chengdu Aircraft, the Chinese manufacturer of J-10C jets, have soared 36% over two trading sessions, reflecting increased demand for Chinese arms in the region.
  • Pakistan's Karachi-100 index dropped 3.13% following the strikes, while India's Sensex and Nifty remained stable, highlighting divergent market reactions.
  • India has cautioned China's state-run Global Times against spreading unverified claims, underscoring the role of information warfare in the ongoing conflict.