Increasing Western military support to India, and China’s to Pakistan, signals a shift in global alignments — and another potential flashpoint for international tensions.

The escalating conflict between India and Pakistan, two neighbors who have been rivals for decades, erupted in the early hours of Wednesday morning when New Delhi launched missiles across the border.

Shares of Chinese defense-manufacturing companies rallied on Wednesday, as the escalation in border tensions between India and Pakistan boosted the outlook for mainland exporters.