00:00Shares of Chinese defense companies rallied on 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, according to Bloomberg.
00:11In a report titled, Chinese Defense Companies Soar as Pakistan Touts Arms Purchase, and published on June 9, Bloomberg reported that shares of AVIC Shenyang Aircraft Company, the maker of China's J-35 stealth fighter jet, which is the centerpiece of the package,
00:30soared by their 10% daily limit in Shanghai, extending gains for the third consecutive session.
00:35The stock led a rally across other defense names, such as Aerospace Nanhu Electronic Information Technology Co., whose shares jumped as much as 15%.
00:45The government of Pakistan said in a social media post on Friday that it would acquire 40 J-35 fifth-generation fighter jets, KJ-500, airborne early warning and control aircraft, as well as HQ-19.
00:59Ballistic Missile Defense Systems
01:01China's Ministry of Defense didn't respond to a request.
01:06Shares of Chinese armsmakers have been on the rise since Pakistan last month claimed that Chinese J-10CC helped to shoot down six Indian fighters, including French-made Rafale aircraft.
01:17India has downplayed Pakistan's claims about the effectiveness of weaponry deployed from China and other countries, saying that the Indian military was able to conduct precision airstrikes deep in Pakistani territory, Bloomberg reported.
01:30The J-35 sail to Pakistan would mark China's first export of the fifth-generation jet, which has advanced stealth capabilities for penetrating the airspace of an adversary.
01:41The fighter was developed by Shenyang Aircraft Corporation and publicly unveiled at the 2024 Zhuhai Air Show.
Comments