Why Computershare, Core Lithium, Northern Star, and Vulcan Energy shares are storming higher

These ASX shares are avoiding the market weakness. But why?

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and dropped into the red. At the time of writing, the benchmark index is down 0.5% to 7,808.9 points.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Computershare Ltd (ASX: CPU)

The Computershare share price is up 3.5% to $27.91. This is despite there being no news out of the administration services company on Thursday. However, it is worth noting that treasury yields in the United States jumped last night in response to a hotter-than-expected inflation reading. As Computershare is a big winner from higher interest rates, the prospect of rate cuts being pushed back could be giving its shares a lift today. Its shares are now up over 25% since this time last year.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 6.5% to 16.5 cents. This follows the release of a mineral resource estimate update for the lithium miner's Finniss Project in the Northern Territory. Core Lithium has reported a 58% increase in the Finniss Lithium Project mineral resource estimate to 48.2Mt at 1.26% Li2O. This reflects the culmination of all drilling undertaken by the company's exploration team in 2023. It also notes that the measured and indicated resource categories have increased to 27.9Mt @ 1.32% Li2O.

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price is up 3% to $15.41. Investors initially sold down this gold miner's shares this morning in response to its third-quarter update. However, that weakness was short-lived and its shares are on course to end the day meaningfully higher. Although Northern Star's production suffered during the third quarter due to a weather event, it has reiterated its full-year guidance.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up almost 17% to $3.34. This has been driven by the release of an update on the lithium developer's Lithium Extraction Optimisation Plant (LEOP) in Germany. Vulcan revealed that it has started production of the first Lithium Chloride (LiCl) product at the LEOP. This represents the first lithium chemicals domestically produced from a local source in Europe for the European market. Positively, LEOP is showing strong early results with consistently over 90% (up to 95%) lithium extraction efficiency from its Adsorption-type Direct Lithium Extraction (A-DLE) unit.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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