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Shares of AVIC Chengdu Aircraft surged nearly 10 percent ahead of President Trump’s meeting with Pakistan’s army chief.
Acic Chengdu stock surges 10% ahead of Trump meeting with Pakistan’s army chief, Asim Munir.
Avic Chengdu Share Price: Shares of J-10 fighter jet maker AVIC Chengdu Aircraft surged nearly 10% during intraday trading on Wednesday, ahead of President Donald Trump’s meeting with Pakistan’s army chief, Asim Munir.
At the time of writing this report, Avic Chengdu Aircraft Ltd shares were trading at CNY 88.93 with a gain of 4.14 per cent. Earlier, the scrip opened at CNY 85.48, against the previous day close at CNY 85.40. Stocks are up 12 per cent in the past five days. The day’s high touched at CNY 93.88.
This will be Munir’s first meeting with the US President following India-Pakistan border tensions in May.
Tensions between the two countries escalated after India launched ‘Operation Sindoor’ in response to a deadly attack on tourists in Pahalgam, Kashmir, which resulted in 26 fatalities.
AVIC Chengdu Aircraft Stock Movement
Shares of Avic Chengdu Aircraft Co Ltd, a Chinese defence manufacturing and the maker of J-10 fighter jets, have seen a weak momentum by falling over 17 per cent with the ease of tensions between India and Pakistan. J-10 jet fighters were used by the Pakistan army during the border tensions.
Stocks of Avic Chengdu Aircraft experienced a sharp spike after the Pahalgam terror attack and Operation Sindoor.
In the two weeks between April 30 and May 12, the price of Avic Chengdu Aircraft stock shot up to 95.86 CNY from 58.75 CNY, registering a jump of 64 per cent in the duration. Other Chinese defence stocks also saw surged in the expectations of a full-fledged war and the surging demand of weapons like fighter jets, missiles and other equipment.
The Chinese defence stock has declined after Prime Minister Narendra Modi challenged Pakistan’s claims that Chinese-made fighter jets were responsible for destroying the Indian Air Force’s Adampur airbase.
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Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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