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:

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.

The post Why Block, Brainchip, Core Lithium, and Life360 shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• This ASX tech share is leaping 13% today as it readies for an entrance into the ASX 200
• Why is the Core Lithium share price soaring 11% today?
• BrainChip share price jumps 10% on Akida platform news
• These ASX shares are being dumped from the ASX 200 index this month
• Here are the 10 most shorted ASX shares this week

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Life360. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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