In late trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small gain. The benchmark index is currently up 0.2% to 6,619.9 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Block Inc (ASX: SQ2)
The Block share price is up 3% to $96.15. This follows a similarly positive night of trade on Wall Street for its NYSE-listed shares. Investors may believe the Block share price has been oversold following a 60% decline since the start of the year.
Megaport Ltd (ASX: MP1)
The Megaport share price is up almost 7% to $6.57. A rebound in the tech sector and a bullish broker note out of Goldman Sachs could be behind this gain. In respect to the latter, this week the broker reiterated its buy rating with a $9.00 price target on the company's shares. This implies major upside potential even after today's gain.
Navigator Global Investments Ltd (ASX: NGI)
The Navigator Global share price is up 6% to $1.40. This follows the release of the asset manager's latest asset under management (AUM) update. That update revealed that its AUM grew to US$22.9 billion at the end of June. This was driven by strong growth from its NGI Strategic portfolios, which reported a 9% increase in AUM.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 4% to $5.37. The catalyst for this appears to be a broker note out of Credit Suisse. Its analysts have upgraded their coal price forecasts to reflect stronger than expected prices. It believes this bodes well for Whitehaven Coal, which is the broker's top pick in the sector.
