Asia
ASX Midday Sector Update: Consumer Staples Stocks Rise, Cochlear Weighs on Health Care
Consumer staples stock rose more than 1% to lead gainers in midday trading on Wednesday.Treasury Wine Estates (ASX:TWE) was advancing more than 16% after saying it will transition to a new regional operating model, effective Oct. 1, under which the company will have four regional divisions.On the flip side, health care stocks retreated over 5%, weighed down by a sharp decline for sector heavyweight Cochlear (ASX:COH).The company's shares plunged more than 39% after it downgraded its fiscal year 2026 underlying net profit guidance, saying that trading conditions for its hearing implants in developed markets have been weaker than anticipated since January.
ASX 200ASX:COHASX:TWE