In late morning trade on Friday the S&P/ASX 200 Index (ASX: XJO) has run out of steam and is tumbling lower. At the time of writing, the benchmark index is down 0.3% to 6,976.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:
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Anteotech Ltd (ASX: ADO)
The Anteotech share price has jumped 7% to 25.7 cents. This morning the surface chemicals company announced that it has executed a project participation agreement with the Future Battery Industries CRC for collaboration in the Super Anode Project. According to the release, the Super Anode Project is a four-year project with the aim of developing the materials, processes and cell-level technology to kick-start Australia's battery industry.
EROAD Ltd (ASX: ERD)
The EROAD share price has climbed 5% to $4.61 after announcing a major new contract win. According to the release, the transportation technology services company has signed a five-year agreement with essential services provider Ventia. The deal will see Ventia install approximately 2,500 Ehubo 2 devices in their Australian fleet. This almost doubles the company's current footprint in Australia.
Jindalee Resources Limited (ASX: JRL)
The Jindalee Resources share price is rocketing 27% higher to $2.33. This follows the release of an update on the mineral resource estimate of its 100% owned McDermitt Lithium Project in the United States. According to the release, the updated mineral resource estimate indicates that the company owns the largest lithium deposit in the United States based on contained lithium.
Kogan.com Ltd (ASX: KGN)
The Kogan share price is up almost 5% to $13.15. Investors have been buying Kogan and other tech shares on Friday after a solid night of trade for the Nasdaq index. The tech-focused index rose 1% after bond yields softened in the United States. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is up a decent 0.6%.
