The S&P/ASX 200 Index (ASX: XJO) is on course to bounce back with a small gain on Tuesday. In afternoon trade, the benchmark index is up 0.3% to 7,250.1 points.
Four ASX shares that are climbing more than most are listed below. Here's why they are charging higher:
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Ainsworth Game Technology Limited (ASX: AGI)
The Ainsworth Game Technology share price is up over 9% to $1.21. Investors have been buying this gaming technology company's shares following the release of an update at its annual general meeting. Management advised that it expects to achieve approximately $18 million in profit before tax pre-currency and one-offs for the six months ending 31 December 2022.
BHP Group Ltd (ASX: BHP)
The BHP share price is up 2.5% to $45.00. The catalyst for this gain appears to have been a rebound in iron ore prices during Asian trade. According to the Singapore Exchange, iron ore futures are up 3% to US$100.40 per tonne. Rio Tinto Ltd (ASX: RIO) shares are rising by a similar margin for the same reason. The potential easing of restrictions in China has boosted prices.
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)
The Fisher & Paykel Healthcare share price is up 10% to $21.18. This follows the release of the medical device company's half year results this morning. Although Fisher & Paykel Healthcare reported a 57% decline in net profit after tax to NZ$88.85 million, this was in line with expectations. The prior corresponding period benefited greatly from COVID demand for respiratory care devices.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up 6% to 51 cents. Leo Lithium and a number of other lithium shares are rebounding strongly today after recent declines. This may have been driven by speculation that China may ease COVID restrictions despite soaring cases. China is holding a COVID briefing later today.
