In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has slipped into the red. At the time of writing, the benchmark index is down a fraction to 7,485.5 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 9% to $4.61. This is despite there being no news out of the uranium developer. However, it is worth noting that most ASX uranium shares are charging higher today. Some investors may believe that the recent weakness has created a buying opportunity.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is up 2% to $1.70. This follows the release of the fund manager's latest funds under management (FUM) update. GQG reported total FUM of US$120.6 billion at the end of December, which is up 7.1% since the end of last month. The company also revealed that its net inflows for the 12 months came to US$9.9 billion.
Kali Metals Limited (ASX: KM1)
The Kali Metals share price is up 76% to 44 cents. At noon, this lithium explorer commenced trade on the ASX boards following the successful completion of its IPO. Kali Metals raised $15 million through the issue of 60 million shares at an issue price of $0.25 per share. This equated to a market capitalisation of $36 million at listing. Taking part in the IPO was Mineral Resources Ltd (ASX: MIN) founder and managing director, Chris Ellison.
Red 5 Limited (ASX: RED)
The Red 5 share price is up 7% to 30 cents. This morning, this morning the gold miner revealed that it achieved gold production of 53,017 ounces for the December quarter from the King of the Hills Gold Project. This means that its production for the first half of FY 2024 was 108,026 ounces, putting it firmly on track to achieve the upper end of its full-year production guidance of 195,000 ounces to 215,000 ounces.
