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 0.5% to 7,308.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:
Block Inc (ASX: SQ2)
The Block share price is up 5.5% to $149.94. This follows a similarly strong gain by the payments giant’s NYSE listed shares on Monday night. This was driven by a rebound in the tech sector following a meltdown on Friday night which sent the tech-focused Nasdaq index sinking 4% lower.
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price is up 2.5% to $3.50. Investors have been buying this property listings company’s shares after it released a trading update ahead of an investor conference appearance. That update revealed that digital revenue increased 25% during the third quarter and total revenue was up 24% for the quarter.
Metcash Limited (ASX: MTS)
The Metcash share price is up 1.5% to $4.83. This morning the wholesale distributor announced that it has entered into an agreement with Australian United Retailers to supply its national network of supermarkets and convenience stores for a further five-year period. Australian United Retailers’ network comprises more than 540 independently owned supermarkets and convenience stores.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up 5% to $1.15. This is despite there being no news out of the buy now pay later provider today. In fact, the only real news relating to the company is a bearish broker note out of UBS. This morning the broker reiterated its sell rating and cut the price target on Zip’s shares down to a lowly 90 cents.