Chinese defence stocks tank up to 8% after India-Pak ceasefire

Chinese defence stocks traded under heavy selling pressure on Tuesday following India and Pakistan's ceasefire after India's Operation Sindoor against terrorists in Pakistan. The Hang Seng China A Aerospace & Defence Index was trading 3% lower, while its constituents Avic Chengdu and Zhuzhou Hongda were down over 8% and 6%, respectively. Pakistan used Chinese jets and missiles against India.