0013 GMT - Australian wine exports to China are surging since Beijing lifted tariffs. Industry group Wine Australia says shipments to mainland China increased by A$604 million to A$612 million in the 12 months through September. But Jefferies analysts Michael Simotas and Naveed Fazal Bawa say it's too early to be entirely clear on the strength of Chinese demand, as the increase reflects restocking given that Australian wine was absent from the market for a few years. The Jefferies analysts are still bullish on Australia-based vintner Treasury Wine. "China demand needs to improve for TWE to deliver longer term targets," the Jefferies analysts say, "but we see little near-term risk given (the) supply shortfall." They also say weakness in China imports from other markets suggest Australia is displacing competitors. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
October 21, 2024 20:13 ET (00:13 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。