Shares of Chinese defense companies went up sharply on Monday after reports confirmed that Pakistan plans to buy the advanced J-35 stealth fighter jets from China. According to Bloomberg, the strong rise in defense-related stocks came after an official statement from Pakistan confirmed the deal, ending weeks of rumors and speculation.
AVIC Shenyang Aircraft Co., the company that builds the J-35 jets, hit the maximum allowed daily increase of 10% during trading on the Shanghai stock exchange. This marked the third day in a row that the company’s shares have gone up. Another company, Aerospace Nanhu Electronic Information Technology Co., also saw a big jump in its stock price, rising by as much as 15%.
The news of Pakistan’s decision to buy these next-generation fighter jets has created a wave of excitement among investors. Many see it as a major win for China’s defense industry and a strong sign that its military technology is gaining more international customers. This deal is expected to give a significant boost to China’s defense exports and deepen military cooperation between the two countries.
