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Why these 5 ASX construction shares went strong today



ASX construction shares Boral Limited (ASX: BLD), Brickworks Limited (ASX: BKW), Cimic Group Ltd (ASX: CIM), Reliance Worldwide Corporation Ltd (ASX: RWC), and James Hardie Industries PLC (ASX: JHX) were all in the green today. By market close, they were up 0.8%, 4.23%, 1.47%, 3.99%, and 1.78%, respectively. For comparison, the S&P/ASX 200 Index (ASX: XJO) ended the day 0.4% higher.

Today’s price appreciation came as the Australian Bureau of Statistics (ABS) released figures showing building approvals are continuing at record pace.

Let’s take a closer look at some of the factors impacting ASX construction shares today.

Building approvals up

The number of dwellings approved rose 17.4% in March (seasonally adjusted), following a…

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