Wine Industry

Treasury Wine Estates jumped the most in 12 years after reporting strong China sales recovery, with mainland revenue up 89 percent year-on-year. The Penfolds owner benefited from Beijing's quiet relaxation of Australian wine tariffs as diplomatic relations thaw. Premium wine exports to China now exceed pre-trade war levels, suggesting consumers have forgiven the political disruption. The stock surge validates investors who bought during the tariff trough, with shares still trading 40 percent below 2019 peaks.