The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a strong gain. In afternoon trade, the benchmark index is up 0.8% to 7,341.8 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher on Monday:
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Block Inc (ASX: SQ2)
The Block share price is up 5.5% to $120.71. This follows a strong session for this payments company's shares on the NYSE on Friday night. Investors were piling into the tech sector on easing rate hike concerns. This led to the tech-focused NASDAQ index charging 2% higher at the end of last week.
BrainChip Holdings Ltd (ASX: BRN)
The BrainChip share price is up 18% to 60.2 cents. This follows news that the semiconductor company has released a new version of its Akida platform. Management says the new platform was designed in response to customer feedback. If the sales don't start rolling in now, then perhaps they never will.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 6% to $1.02. Investors have been buying this lithium miner's shares following the release of a mineral resource estimate update. According to the release, Core Lithium has more than doubled the resource estimate of the Finniss Lithium project from 4.37Mt at 1.53% lithium oxide to 10.1Mt at 1.48% lithium oxide.
Life360 Inc (ASX: 360)
The Life360 share price is up 13% to $5.42. As well as benefiting from a booming tech sector, this location technology company's shares have taken off today after it was added to the ASX 200 index. Life360 is one of four ASX shares that will join the benchmark index at the next quarterly rebalance on 20 March.
