Chinese Defence Stocks Fall Up To 8% After India-Pakistan Ceasefire Agreement
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Chinese Defence Stocks: On May 13, the Hang Seng China A Aerospace & Defence Index traded 3 percent lower so far.
Chinese Defence Stocks: Chinese defense stocks faced significant selling pressure on Tuesday following the India-Pakistan ceasefire. The ceasefire agreement, reached on May 10, included an immediate halt to all firing and military actions on land, air, and sea after four days of intense cross-border drone and missile strikes.
India launched Operation Sindoor, targeting 21 terror camps in Pakistan and Pakistan-occupied Kashmir. In response, Islamabad unleashed a series of drone and missile attacks on civilian and military targets across Jammu, Punjab, and Rajasthan during the night of May 7 and into May 8.
India's advanced air defense systems intercepted Pakistan's strikes, which heavily relied on Chinese weaponry, such as China-made drones, missiles, and air defense systems. This highlighted Islamabad's growing military dependence on Beijing.
After the cessation of hostilities, shares of major Chinese defense firms experienced a sharp downturn. On May 13, the Hang Seng China A Aerospace & Defence Index traded 3 percent lower. Key constituents AVIC Chengdu and Zhuzhou Hongda saw declines of 8.6 percent and 6.3 percent, respectively.
AVIC Chengdu Aircraft, the manufacturer of the J-10C fighter jet, traded 8.6 percent lower. Pakistan's Foreign Minister Ishaq Dar confirmed in Parliament that Chinese-made J-10C fighter jets were used in the engagement.
First Published:
May 13, 2025, 13:17 IST
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