In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.6% to 7,055.8 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are storming higher:
Afterpay Ltd (ASX: APT)
The Afterpay share price is up 3% to $91.58. Investors have been buying Afterpay and other tech shares today following a better night of trade on the tech-focused Nasdaq index. Although the famous index recorded a small decline, it actually rebounded from an intraday decline of 3.5%. The S&P/ASX All Technology Index (ASX: XTX) is up 1.3% at the time of writing.
CSR Limited (ASX: CSR)
The CSR share price has jumped 8.5% to $6.41 following the release of its full year results. This morning the building products company revealed a 17% increase in statutory net profit after tax to $146.1 million. This profit growth was driven largely by strong cost control and operational efficiency from the company’s building products division.
Electro Optic Systems Hldg Ltd (ASX: EOS)
The Electro Optic Systems share price has surged a sizeable 11% higher to $4.43. This morning the communications, defence, and space company revealed that it has achieved a significant cash inflow after its investment in inventory converted to cash. Positively, management anticipates further cash receipts of over $100 million during the fourth quarter of 2021.
Estia Health Ltd (ASX: EHE)
The Estia Health share price is up 4.5% to $2.66. Investors have been buying the aged care operator’s shares following the Federal Budget last night. As part of the Budget, the government is putting an extra $17.7 billion toward aged care over five years. The government will also provide $3.9 billion over the next four years to mandate the care minutes of 240,000 aged care residents.