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Why these 4 ASX shares have soared today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has responded to yesterday’s sharp decline with a solid gain today. In afternoon trade the benchmark index is up 0.2% to 5,696 points.

Four shares which have made notably strong gains today are listed below. Here’s why they have soared:

The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has jumped 3.5% to a new all-time high of $3.64 today despite there being no news out of the fast-growing dairy company. Investors have been fighting to get hold of shares this week following news that China has delayed its new cross border e-commerce laws indefinitely.

The Sigma Pharmaceutical Limited (ASX: SIP) share price is up 3% to $1.23 following the release of a solid full-year result. The company reported a 13% jump in underlying net profit after tax to $66.9 million. At just over 19x underlying earnings and providing a fully franked 4.4% dividend, I think Sigma could be worth a closer look.

The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has climbed 3.5% to $17.33 following the release of its half-year report. Thanks to a number of successful investments the conglomerate reported a 61% rise in revenue to $438 million and a 68% jump in profit to $139 million. A solid result from a high-quality company.

The Zelda Therapeutics Ltd (ASX: ZLD) share price is up 2.5% to 8.4 cents after the medical marijuana company announced that it will conduct clinical trials in Chile in the second-half of 2017. These trials will focus on insomnia and eczema treatments. The two markets combined were estimated to be worth $8 billion in sales last year.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of A2 Milk and Washington H. Soul Pattinson and Company Limited. 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.