Why these 4 ASX shares are starting 2018 with solid gains

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to start the year with a day in the red. The benchmark index is down a disappointing 0.4% to 6,040 points in afternoon trade.

Four shares that have defied the market and climbed higher are listed below. Here’s why they have started the year with solid gains:

The Pilbara Minerals Ltd (ASX: PLS) share price has climbed almost 5% to $1.17. Incredibly, this latest gain means that the lithium miner’s shares have now rocketed a massive 215% over the last six months.

The Resolute Mining Limited (ASX: RSG) share price is up almost 3% to $1.17. The majority of Australia’s leading gold miners are pushing higher today after the spot gold price rose following U.S. dollar weakness. Gold is fetching US$1,306 an ounce currently, its highest level since October.

The Syrah Resources Ltd (ASX: SYR) share price has put on a gain of 5% to $4.74 despite there being no news out of the graphite miner. Syrah is currently the most shorted share on the ASX, so today’s gain out of nowhere could potentially be down to short sellers buying back shares to close positions.

The Yojee Ltd (ASX: YOJ) share price has jumped 9% to 32.7 cents. Investors have been fighting to get hold of the technology company’s shares since its recent market update revealed explosive growth from its Singapore-based logistics platform business. I think Yojee is one to watch this year.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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