I think it's to do with how the other hemisphere is trending spike? London went down almost 10% off the intraday high, closing effectively where it opened (despite that last high 4.6c equivalent trade).
Each bourse is impacted by traders, opening or closing positions as they react to the other hemisphere's trend.
We saw London's slide and ASX TA saw no reason why that slide wouldn't be expected to continue. Then arbitrage opportunity drew the two somewhere back near parity at the end.
London's intraday spike yesterday saw the inverse of that, as it was walked up on light'ish volume by the MM's looking for some lunch money, and from a bit of early session retail demand. Again, without news, arbitrage contracted the differential later in the session.
Occasionally, one will break away from the other, up or down, but that is more often than not around FA news.
Just my take...could be way off.
All the best mate, means little I suppose.
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Last
0.2¢ |
Change
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Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.1¢ | $27.03K | 13.91M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 359 | 956509315 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 8325743 | 6 |
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| Last trade - 14.55pm 08/11/2024 (20 minute delay) ? |
| 88E (ASX) Chart |