The S&P/ASX 200 Index (ASX: XJO) is on course to start the year in a disappointing fashion. At the time of writing, the benchmark index is down 1.85% to 6,908.3 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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HT&E Ltd (ASX: HT1)
The HT&E share price is up over 3% to 99.7 cents. This morning the advertising and media company announced the sale of its ~25% interest in Soprano Design to Potentia Capital for $66.3 million. Management believes the all-cash deal will allow the company to focus on its position as a leading provider of audio services in Australia.
Seven West Media Ltd (ASX: SWM)
The Seven West Media share price is up 2.5% to 40.5 cents. This follows news that the company has signed a new agreement with Cricket Australia. The seven-year deal extends the company's media rights from the 2024-25 season to the 2030-31 season. Seven West Media will be paying $65 million a year, which is a 13% reduction on its previous deal.
Tabcorp Holdings Limited (ASX: TAH)
The Tabcorp share price is up 2% to $1.10. This is despite there being no news out of the gambling company. However, given its relatively defensive earnings, investors may see it as a safe haven during the current market volatility.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is up 6% to $3.45. This morning, the semiconductor company announced that it has released its first 22-nanometre demonstration chip to manufacturing. Weebit Nano's demo chip aims to provide a low-power, cost-effective embedded non-volatile memory solution able to withstand harsh environments.
