The S&P/ASX 200 Index (ASX: XJO) is off its intraday lows but still remains down 0.45% to 6,797 points in afternoon trade.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
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Accent Group Ltd (ASX: AX1)
The Accent share price is up 2.5% to $1.86. This appears to have been driven by a broker note out of Citi this morning. Its analysts have retained their buy rating and $2.12 price target following the release of an update from a US peer. It believes the updates point to strong momentum for a number of Accent's brands.
Syrah Resources Ltd (ASX: SYR)
The Syrah Resources share price is up almost 7% to 75.2 cents. Investors continue to buy this graphite producer's shares following news that China is planning to curb exports of the battery-making ingredient. Management responded to the news, commenting: "Near-term China supply uncertainties benefit Syrah's development and commercial position."
Tietto Minerals Ltd (ASX: TIE)
The Tietto Minerals share price is up almost 35% to 57.2 cents. This has been driven by news that the Africa-based gold miner has received a conditional, non-binding indicative proposal from Zhaojin Capital to acquire 100% of the shares it does not already own. Zhaojin Capital is offering 58 cents per share in cash. Management is assessing the offer.
Xero Limited (ASX: XRO)
The Xero share price is up 3% to $107.69. A bullish broker note out of Jefferies and a stronger-than-average session for tech shares appear to be the drivers of this gain. In respect to the Jefferies note, its analysts have lifted their price target to $122.63. This implies a further upside of 14% for investors from current levels.
