Hi: Good question. The answer depends on where you are getting...

Hi: Good question. The answer depends on where you are getting your data from, as some data providers quote ASX 200 Futures (SPI) CFD, not the SPI futures themselves, and some show night and day data combined, not just the night data. So for example, if the futures CFD was down 100 points during the day, and is down 5 points during the night, they would show it being down 105 points, which isn't the case. SPI futures are usually in backwardation to the XJO, so for example, say 19 points behind, so if XJO closed the day session at 6210, SPI would be around 19 point less, so say 6191. The backwardation get's less as the futures contract get's closer to expiration. SPI futures close at 4:30 pm and then re-open at 5:10 pm. It is from that point they start 'predicting' what the XJO will open at the next day. The SPI 'prediction' will also change in the morning, as they close at 07:00 am and re-open at 09:50 am, 10 minutes before the XJO opens, which is after the US futures have re-opened.

So, for example, at this current moment in time at 04:00 am, Investing.com SPI futures CFD is showing a price of 6,192, up 40.5 points, but in reality, the price is 6,192, down 7 points, as they closed the day session at 6,199.

Sorry if I have confused you more...