Aussies kick out the Kiwis...

[Lizard]

AIA, FPA, NPX, NZO, PPP, TWR, WHS all removed from the ASX All Ords. What's going on?

Is it a reflection of liquidity or a change in policy? Probably only leaves TEL, FBU and FPH in there.

Particularly cruel when they're replacing them with shares like IPD - gee $1.9m revenue and a $8m loss at half year...

[macduffy]

I assume it reflects the volumes traded on the ASX in those stocks.

I note that TEL has been demoted from the ASX100 but FBU has gone up a grade! - to the 200.

[Balance]

I assume it reflects the volumes traded on the ASX in those stocks.

I note that TEL has been demoted from the ASX100 but FBU has gone up a grade! - to the 200.

ASX upping the ante.

These companies will have to decide if they want to stay listed in NZX or migrate across to ASX.

Why bother with NZX? A dying market being squeezed to death by its CEO hell-bent upon feathering his own nest before flying the coop.

[winner69]

The NZX should retaliate and kick the likes of Pacific Brands and Spotless and Transpacific off the NZX .... that would show them whose boss eh

God only knows why listed here anyway

[macduffy]

God only knows why listed here anyway

That's true.

But in that case it would hardly show anyone "whose boss" !

Just slightly reduce the NZX's already modest fee base.

[gambier33]

Keep your hats on guys!

Seems like S&P/ASX have changed the way NZ and PNG domiciled companies listed on the ASX are included in their indices. Whereas the total number of shares issued by these companies were previously used to calculate their ranking, now only the shares registered on the ASX are used.

Even though it seems to have generated a little (wee?) bit of Kiwi xenophobia, it is actually more logical for an Australian index. The old method gave an unfair weighting to shares that weren't even domiciled or traded on the ASX.

Note that NZ and PNG companies listed on the ASX have NOT been excluded from the indices, it's just the way the calculation to re-balance the indices is done that has changed.

[Lizard]

Hi gambler,

It was tongue in cheek headline really. Thanks for the info - I was wondering if there was something like that.

I think the NZX is more in need of doing something similar - the large cap Aussie stocks like TLS, WBC and ANZ are not particularly liquid over here. Difficult to know how much they affect the index, since I haven't been able to find weightings, but must be considerably more than the little NZ stocks were able to affect the all-Ords (and I still think they could find something better than IPD to stick in the All-Ords!)