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 0.45% to 7,197.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 2.5% to $4.48. Investors have been scrambling to buy Boss Energy and other ASX uranium shares this month thanks to a strong rise in the price of the chemical element. This has been driven by very favourable long-term demand forecasts for uranium.
Genesis Minerals Ltd (ASX: GMD)
The Genesis Minerals share price is up 2% to $1.59. Investors have been buying this gold miner's shares after it turned out not to be the company building a stake in smaller peer Red 5 Limited (ASX: RED). Genesis shares took a tumble after media speculation emerged suggesting that it was the buyer of the 11% stake. It turns out that Silver Lake Resources Ltd (ASX: SLR) was the buyer. Its shares have crashed since it showed its hand.
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is up 3% to $6.35. This has been driven by the release of the coal miner's FY 2023 results. New Hope revealed record profits and big dividends for shareholders. A final ordinary dividend of 21 cents was declared, along with a final special dividend of 9 cents per share. Both will be fully franked payouts.
Tuas Ltd (ASX: TUA)
The Tuas share price is up 10% to $2.09. This morning, the TPG Telecom Ltd (ASX: TPG) spin-off released its FY 2023 results and reported a 50% year on year increase in revenue to $86.1 million and an improvement in its net loss. The Singapore-based telco also advised that it plans to begin rolling out its own fibre broadband offering in the country under the Simba brand in FY 2024.
