China’s Defense Stocks Advance After India-Pakistan Clash
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Shares of Chinese defense-manufacturing companies rallied on Wednesday, as the escalation in border tensions between India and Pakistan boosted the outlook for mainland exporters.
Pakistan, which has imported a bulk of the defense equipment including J-10C fighter jets, claimed to have shot down five Indian planes, including a French Rafale jet. This led to speculation that Chinese defense platforms may have been deployed in the conflict, given Pakistan’s recent heavy reliance on such arms imports.