In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is on course to record a sizeable decline. At the time of writing, the benchmark index is down 0.6% to 7,333 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
Challenger Ltd (ASX: CGF)
The Challenger share price is up 1.5% to $6.70 after naming its new Chief Executive Officer. According to the release, the annuities company has hired from within, promoting Nick Hamilton to the top job. Mr Hamilton has been the Chief Executive of Challenger's Funds Management business since 2019.
Helloworld Travel Ltd (ASX: HLO)
The Helloworld share price is up 5% to $2.41. This morning the travel company announced the sale of its corporate and entertainment travel businesses in Australia and New Zealand to Corporate Travel Management Ltd (ASX: CTD) for $175 million. This comprises $100 million in cash and $75 million in Corporate Travel Management shares.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price has risen 2% to 85 cents after releasing a drilling update from its Kachi Lithium Brine Project. According to the release, new drilling reinforces prior results, supporting the potential expansion of future production to 50,000 tonnes per annum of lithium carbonate equivalent.
Strike Energy Ltd (ASX: STX)
The Strike Energy share price is up 5.5% to 19 cents. This follows the release of an update on its Project Haber. According to the release, the strategic significance of Project Haber to the national economy has been recognised at both a State and Federal level. This has seen the project awarded Lead Agency Status from the WA Government and a $2 million grant by the Federal Government as part of the Supply Chain Resilience Initiative.
