I think you'll be surprised.
There's buying for cza in Jse and Lse. As such, if ASX sits 40% lower someone with a dual account will simply buy up the cheapies in Australia and sell them into the liquid markets.
Easiest arbitrage around.
Also, if the Aus markets are horrible for cza I'll just work out how to transfer them to UK and I'll sell them there.
I'm small fry and have a good idea how to do it, so I'm guessing the bigger players could do it without any trouble at all.
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