Shares of Chinese defense company AVIC Chengdu fell by 5 percent on Thursday. Earlier on Wednesday, after the news of a meeting between Pakistani army Chief Field Marshal Asim Munir and US President donald trump at the White House, its shares rose by 10 percent, but when nothing special was announced after this meeting, the shares crashed again. Let us tell you that this was the first meeting of trump and Munir after the war between Iran-Israel and India's 'Operation Sindoor'.
Fall in three out of five trading sessions
On Thursday, the share price of AVIC Chengdu Aircraft opened at 86.59 Yuan, which is less than the previous closing price of 88.93 Yuan. With this, the stock fell to the lowest level of the day at 84.26 Yuan, which shows a decline of 5.25 percent from the previous closing price. The company's shares fell in three of the last five trading sessions. However, despite this, the shares also gained up to 9 percent during this period. The stock has increased by 31 percent in the month of May and 11 percent so far in June.
pakistan used J-10 fighter jet
Let us tell you that during 'Operation Sindoor', pakistan used fighter jets made in China. These included the J-10 fighter jet made by AVIC Chengdu. During this time, pakistan claimed that the Chinese fighter jet J-10 had completely destroyed an airbase of the indian Army. After this news, there was a sharp rise in the shares of AVIC Chengdu.
During the pahalgam terrorist attack and Operation Sindoor, i.e. between april 30 and May 12, the price of its shares increased from 58.75 Yuan to 95.86 Chinese Yuan, which shows a jump of up to 64 percent in just two weeks. However, after india exposed Pakistan's claim as false, its shares fell by more than 17 per cent..jpg)
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