AVIC Chengdu share price: Shares of J-10 fighter jet maker — AVIC Chengdu Aircraft — rallied nearly 10% in intraday trade on Wednesday ahead of President Donald Trump’s meeting with Pakistan’s army chief, Asim Munir. This will be Munir’s first meeting with the US President following a four-day military conflict with India in May.
The clashes between the two countries intensified after India launched ‘Operation Sindoor’ following a deadly attack on tourists in Pahalgam, Kashmir, which resulted in the death of 26 people.
AVIC Chengdu share price trend
Since May, AVIC Chengdu Aircraft’s share price has been in focus, as the J-10 fighter jet was used by Pakistan’s military for attacks on India, albeit without making a meaningful impact. During the peak of the India-Pakistan conflict, AVIC Chengdu stock had witnessed a massive rally, but later the gains had fizzled out. Overall, for the month, it managed to surge 30%, climbing to a high of 97.55 yuan.
The flare-up in tensions in the Middle East and the latest report of Asim Munir’s visit to the US are acting as fresh triggers for the upmove in the stock.
The Chinese defence stock has rallied almost 19% in the last four sessions, including the 10% rise seen today. Today, AVIC Chengdu share price hit the day’s high of 93.88 yuan, bringing it closer to its all-time high of 97.55 yuan seen last month.
Commenting on how to trade, Avinash Goranshkar of Profitmart Securities, said that until and unless any concrete announcement comes after the meeting, one should remain away from the stock. “Those who have this stock can book profit or hold depending upon their risk appetite. But fresh investors should try away from taking any position in the stock,” he advised.
Asim Munir-Trump Meet
The lunch meeting between Trump and Pakistan’s Asim Munir is scheduled to take place at 1 p.m. Washington time Wednesday, in the White House Cabinet Room, according to the president’s daily public schedule.
The Pakistani military leader is also expected to meet with Secretary of State Marco Rubio and Defence Secretary Pete Hegseth on his US trip, according to a Bloomberg report.
A meeting between Trump and Prime Minister Narendra Modi had been anticipated at the Group of Seven summit in Canada this week as their two countries negotiate a new trade accord.
(With inputs from agencies)
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