Avic Chengdu stock: The high-flying Chinese defence company, Avic Chengdu Aircraft, shares witnessed a heavy selloff on Tuesday, May 13, following a strong-worded message by Prime Minister Narendra Modi a day ago on the successful completion of Operation Sindoor.
Following his message, shares of Chinese defence companies faced heavy selloff today, even as Indian defence stocks rallied. Avic Chengdu Aircraft, the maker of J-10 fighter jets which Pakistan Deputy Prime Minister Ishaq Dar said were used by its air force, also declined sharply.
Avic Chengdu Aircraft share price crashed as much as 9.31% to 86.93 yuan in intraday trade today. As of 1.15 pm IST, China’s Avic Chengdu Aircraft stock was down 7.51% at 88.66 yuan.
PM Modi warned Pakistan that India will not succumb to nuclear blackmail and sent a clear message to the world: terror and trade, terror and talks cannot go together.
