With just a few hours of trade left in the week, the S&P/ASX 200 Index (ASX: XJO) is down 2.2% since last Friday's close, despite the best lifting efforts of these three surging ASX 200 stocks.
One of this week's top performers provides building materials, one is a global wine maker, and the third earns its keep providing residential aged care.
Here's how these ASX shares have managed to charge higher in this week's sinking market.
ASX 200 stocks jumping in this week's sliding market
First up, we have James Hardie Industries PLC (ASX: JHX).
Shares in the building materials company closed last Friday at $28.04 and are currently trading at $30.95 apiece. That sees this ASX 200 stock up 10.4% for the week.
There was no price-sensitive news from James Hardie this week. But after hitting four-month lows of $26.10 a share on 31 March, investors appear to believe the stock has been oversold.
This brings us to our second outperformer of the week, Treasury Wine Estates Ltd (ASX: TWE) shares.
Shares in the global wine company closed last week at $4.01 and are currently trading at $4.53 each, putting this ASX 200 stock up 13.0%.
Treasury Wine shares closed up a whopping 16.5% on Wednesday after the company announced its transition to a new regional operating model.
Judging by the share price action, investors clearly approved of the move, which is intended to improve operational efficiency for the struggling wine distributor.
Treasury Wine will transition to its new regional operating model on 1 October. It will then operate four regional divisions: The Americas, Australia and New Zealand (ANZ), Europe, Greater China, and Emerging Markets (Rest of Asia, Middle East and Africa).
"We are reshaping TWE to drive clearer accountability for performance and to enable faster, more market-connected decision-making as a foundation for consistent depletions growth," Treasury Wine CEO Sam Fischer said.
Leading the charge
Moving on, the top performing ASX 200 stock on my list for this week is Regis Healthcare Ltd (ASX: REG).
Shares in the residential aged care provider closed last Friday at $5.89 and are currently trading for $6.69 apiece. That puts Regis Healthcare shares up 13.6% in this week's retreating market.
Shares in the ASX 200 healthcare stock closed up 16.4% on Thursday.
While there was no direct price-sensitive news from the company, the Motley Fool's Cameron England noted that the surge appears to be driven by pending changes to how the Federal government funds residential aged care.
On Wednesday, health minister Mark Butler announced that the government would spend an additional $3 billion to provide more aged care beds and improve overall care for older Australians.
The post 3 ASX 200 stocks storming higher in this week's sinking market appeared first on The Motley Fool Australia.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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