Shares of Rafale Aircraft Maker fall, Shares of Chinese Company Rise

On the intervening night of May 6 and 7, India fired missiles at various cities of Pakistan, in response to which Pakistan claimed that the Pakistan Air Force had shot down five Indian fighter jets.

Pakistan Army spokesman Lieutenant General Ahmed Sharif Chaudhry has said that five Indian aircraft and a combat drone, including three Rafale, one MiG-29 and one SU aircraft, were shot down in response to india’s attack. Shares of Chengdu Aircraft Corporation on China’s Shenzhen Stock Exchange rose as much as 18 per cent after the Pakistan Air Force shot down India’s French-made 4.5th-generation Dassault Rafale fighter jet.

Chengdu Aircraft Corporation is a Chinese aerospace group and has a partnership with the Pakistan Air Force in the manufacture of JF-17 Thunder fighter aircraft.
On the other hand, the share price of French company Dassault Aviation, which manufactures Rafale aircraft used by the Indian Air Force, has seen a decline.

Pakistan Army spokesman Lieutenant General Ahmed Sharif Chaudhry clarified that the Pakistan Air Force shot down these planes when they attacked Pakistan.

Dg ISPR said that all Pakistan air force aircraft are safe.

It is to be noted that India has not yet officially taken any position regarding the shooting down of the aircraft. However, four local government sources in Indian-administered Kashmir confirmed to Reuters that three warships had crashed.