The S&P/ASX 200 Index (ASX: XJO) is having a tough time on Thursday. In afternoon trade, the benchmark index is down 1.2% to 7,000.1 points.
Four ASX shares that aren't letting that hold them back today are listed below. Here's why they are charging higher:
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Bowen Coking Coal Ltd (ASX: BCB)
The Bowen Coking Coal share price is up almost 7% to 32 cents. This morning, this coal miner announced that it has completed the loading of its first coal train through its Mallawa train loadout facility following refurbishment works.
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's share price is up 2% to $65.32. Investors have been buying this pizza chain operator's shares despite there being no news out of the company. However, with its shares down almost 50% in 2022, bargain hunters may have been buying them on the belief that they have been oversold.
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is up 7% to 18.2 cents. Once again, this may have been driven by investors snapping up shares after some significant declines. For example, prior to today, the lithium developer's shares were down by over 50% since the middle of September. Alternatively, some short sellers could be closing positions to lock in gains ahead of the end of the year.
Strategic Elements Ltd (ASX: SOR)
The Strategic Elements share price is up a massive 54% to 17 cents. This morning, this beaten down investment company released an update on Energy Ink. It is a new power source that generates electrical energy from moisture in the air. According to the release, the power output of an Energy Ink battery has provided more than the baseline power consumed by a leading glucose-monitoring skin patch.
