The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) traded 1.3% lower today, following mixed leads from international markets overnight. However, the following four ASX shares were powering higher.
Lynas Corporation Limited (ASX: LYC) – up 11%.
Shares of the rare-earths miner leapt 11% today after the group released a statement to the ASX that revealed it had exceeded its production target for the six months to 31 December 2015. The better-than-expected production means the interest on Lynas' JARE senior loan facility drops from 7% to 6.5% from 1 January 2016.
Bega Cheese Ltd (ASX: BGA) – up 4.55%
Bega Cheese shares flew higher today despite no company-specific news. Shares in the diversified dairy company have risen 55% in three months, coinciding with the surging demand for shares of infant formula makers. In October, Bega inked a deal with Blackmores Limited (ASX: BKL) to produce quality infant formula.
JB Hi-Fi Limited (ASX: JBH) – up 2.4%
In the three days of trading so far in 2016, the JB Hi-Fi share price has risen more than 8%. Coinciding with rival Dick Smith Holdings Ltd (ASX: DSH) entering administration yesterday, shares of fellow electronics retailers like JB Hi-Fi have risen strongly. JB Hi-Fi remains one of Australia's premier retailers despite fears of digital disruption.
MNF Group Ltd (ASX: MNF) – up 4.23%
MNF Group, formally My Net Fone, rose strongly today despite a broader market selloff and falls in other telecommunications companies' shares. The Voice over Internet Protocol (VoIP) specialist has seen its share price rise some 1,380% over the past five years.
