@ContraryJ I have read the 25 pages for the ASX Methodology and I understand it. I didn't think I needed to educate you but here goes:
I refer you to page 3 - This shows the Index Family.
Read "S&P/ASX100" - It is the 100 largest stock
Read "S&P/ASX200" - It is the 200 largest stock
Read "S&P/ASX Small ordinaries" - It is the 300 largest stock (excluding any stocks in ASX 100)
Read "S&P/ASX Small ordinaries select" - It is a subset of the "Small ordinaries" with a requirement of "positive earnings".
Now go to Page 8, This is the continuation of "Eligibility Criteria" that starts on page 6. If you go to "Positive Earnings" it defines what is meant by this term. As you can see, the positive earnings is only an eligibility for inclusion into the "S&P/ASX Small ordinaries select" (Not the ASX100 or ASX200).
Now go to Page 10 & 11. This show you that the eligible stocks for inclusion in the ASX200 & ASX100 in based on the "float-adjusted market capitalization" (ie: Share are ranked 1 to 200 based on their market cap). However in order for the rebalancing to remain less volatile, there is a "buffer" for a stock to be included and also a buffer for a stock to be excluded from the list. For inclusion into the ASX100 the stock needs to be 84th or higher and for it to be removed then it needs to be 116th or lower.
Now to again to educate you on some facts:
FACT 1 - LYC is already in the ASX200. Added in December 2017. See below link to official inclusion https://files.marketindex.com.au/files/announcements/20171208-asx200-rebalance.pdf
FACT 2 - LYC was in the top 100 companies in the latest rebalancing, however it didn't meet the buffer criteria of 84th or higher. There is no requirement for "positive earnings" to be included in the ASX100.
Hope this clarifies and debunks any mistruths that you are dribbling. Now please tell everyone that your were totally wrong!!!!
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2 | 42046 | 5.960 |
4 | 40648 | 5.950 |
6 | 75030 | 5.940 |
3 | 1010 | 5.930 |
Price($) | Vol. | No. |
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6.000 | 9926 | 2 |
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