Why these 4 ASX shares have surged higher today

Credit: Bellamy's

It looks as though the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is going to finish higher today. As the market close approaches the benchmark index is higher by around 0.3% to 5,558 points.

Most sectors have been pushing higher today, with only the energy sector acting as a drag on the index with its 1% decline. Four shares which have really put on a strong performance for their respective shareholders are as follows:

Bellamy’s Australia Ltd’s (ASX: BAL) share price has risen by almost 6% to $11.97 despite there being no news out of the company. Its shares have been on a tear in the last 30 days as the bulls return to this growing company. Its products have been selling increasingly well at home and in China this year and could be set to announce bumper earnings in August. This is definitely one to keep a close eye on in my opinion.

Bellamy’s share price has risen around 17% in the last 30 days.

Bradken Limited (ASX: BKN) shares have jumped for a second day in a row, this time by over 18% to $1.68. This means the shares have risen by over 60% since the heavy engineering and mining services company released its business model restructuring plans yesterday. Bradken expects the model will better deliver its capabilities to its customers, set it up for growth, and reduce overhead costs.

Bradken shares have risen by around 250% this year.

Northern Star Resources Ltd (ASX: NST) shares have soared around 7% to $5.06 after the gold price climbed to a two-week high overnight. Northern Star Resources was not alone in climbing higher today, with most ASX-listed gold miners posting strong gains. The jump in the gold price was a result of investors doubting the US Federal Reserve will raise interest rates anytime soon following its decision to keep them on hold overnight.

Northern Star shares have now rocketed 83% year-to-date.

Touchcorp Ltd (ASX: TCH) shares have rocketed by around 14% to $2.29 after the exciting fintech company released its second positive announcement this week. Today’s release revealed that Touchcorp has teamed up with Switzerland’s Cornèr Bank to successfully launch a secure online recharge platform for two key Cornèrcard payment products. Touchcorp’s management believes it will become a significant revenue stream for the company in FY 2017 and beyond.

Touchcorp shares have now surged around 35% in the last 30 days.

Before you go out and invest in any of these shares I would highly recommend investors check to see if they have either of these three rotten ASX shares in their portfolio. Each could be damaging portfolios and could be better off out if you ask me.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Bellamy's Australia and TOUCHCORP FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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