14 hours ago
Chinese Defense Companies Soar as Pakistan Touts Arms Purchase
Shares of Chinese defense companies rallied Monday, after Pakistan said it intends to buy one of the Asian power's most-advanced fighter jets as a part of major arms purchase.
Shares of AVIC Shenyang Aircraft Company — the maker of China's J-35 stealth fighter jet, which is the centerpiece of the package — soared by their 10% daily limit in Shanghai, extending gains for the third consecutive session. The stock led a rally across other defense names such as Aerospace Nanhu Electronic Information Technology Co., whose shares jumped as much as 15%.
