China's aerospace and military technology shares surge, driven by successful lunar probe landing

Source:Global Times Published: 2019/1/3 13:05:40

Stocks in China's A-share market related to aerospace and military sectors ended Thursday morning in positive territory thanks to investors' confidence in the sectors, encouraged by the successful landing on the moon of China's Chang-e'4 lunar probe and the expected industrial growth in the new year.

In morning trading, Aerospace Communications Holdings Co and Beijing Aerospace Changfeng Co surged to the daily limit of 10 percent, and companies including Aerosun Corp, Shaanxi Aerospace Power Co and China Aerospace Science and Technology Corp also rose between 7 percent to 9 percent.

"The aerospace and military sectors were cheered by good news that China's Chang'e-4 probe successfully landed on the dark side of the moon, driving related shares up," Wu Hao, a Shenzhen-based industry analyst told the Global Times on Thursday.

China's Chang'e-4 probe successfully made the first-ever soft landing on the far side of the moon in the South Pole-Aitken basin on Thursday morning.

The major firms in the industry have set their business plans for 2019 and will soon start implementation, reported, citing Shanghai-based Shenwan Hongyuan Securities.

It is expected that the delivery of services and the production of core equipment will continue to grow in 2019 and the aerospace and aviation sector is likely to grow rapidly.

The research, manufacturing and testing of China's homegrown passenger plane, C919, will further advance in 2019 and three new 919 test planes are scheduled to take their first flights this year, the Xinhua News Agency reported on Tuesday.

The benchmark Shanghai Component Index closed at 2,465.36 points in Thursday morning trading, remaining flat from the prior period, while the Shenzhen Component Index closed 0.29 percent lower at 7,128.21 points.

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