# Why do some symbols remain closed?



## Punta (24 November 2011)

Probably a classic newb question, but I haven't managed to find anything via searches:

So I'm looking at my data feed in Interactive Brokers, and some stocks on the ASX seem to remain closed after their official open time.  Does anyone know why this is?

E.g. today: NWSLV; REA; SKE, and loads of others.

They all seem to have this red dashed line on google

http://www.google.com/finance?client=ob&q=ASX:REA


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## pixel (24 November 2011)

Punta said:


> Probably a classic newb question, but I haven't managed to find anything via searches:
> 
> So I'm looking at my data feed in Interactive Brokers, and some stocks on the ASX seem to remain closed after their official open time.  Does anyone know why this is?
> 
> ...



The ASX opens in staggered groups:


> *Opening Phase
> 
> *         Opening takes place at 10:00 am Sydney time and lasts for about 10 minutes. ASX Trade calculates opening prices during this phase. Securities open in five groups, according to the starting letter of their ASX code:
> 
> ...




  for more info, see http://www.asx.com.au/products/ASX-Trading hours-Market-phases.htm


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## Punta (24 November 2011)

Okay, turns out all symbols have that line on google - just yesterday's close!

Question still remains though - e.g. today, NWSLV seemed to start trading a few mins after it's open, and PMP, VRL and others still look closed...


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## Punta (24 November 2011)

pixel said:


> The ASX opens in staggered groups:
> 
> 
> for more info, see http://www.asx.com.au/products/ASX-Trading hours-Market-phases.htm




Yeah thanks I get the staggered open.  

But if you look at e.g.

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=SKE

It still lists 0 for the open at 10.45 am - this code is still active I think, and the prices on this website are only delayed by 20 min, so I would think there should be data by now...?  E.g. data for SKC is available already...


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## skyQuake (24 November 2011)

Punta said:


> Yeah thanks I get the staggered open.
> 
> But if you look at e.g.
> 
> ...




SKE first trades at 10:55, so i guess IB just using last price?


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## Punta (24 November 2011)

Okay now, at 10.58am SKE is open, but NKP is still closed?  

Clearly I am missing something about the open...


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## Punta (24 November 2011)

skyQuake said:


> SKE first trades at 10:55, so i guess IB just using last price?




Ah okay, I would have thought that SKE opened at 10.09am:


Group 1  10:00:00 am +/- 15 secs A-B, e.g. ANZ, BHP
Group 2  10:02:15 am +/- 15 secs C-F, e.g. CPU, DVT, ECP, FXJ
Group 3  10:04:30 am +/- 15 secs G-M, e.g. GHP, KYC, LIB
Group 4  10:06:45 am +/- 15 secs N-R, e.g. QAN
Group 5  10:09:00 am +/- 15 secs S-Z, e.g. TLS


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## pixel (24 November 2011)

Punta said:


> Yeah thanks I get the staggered open.
> 
> But if you look at e.g.
> 
> ...



 If nobody bites, there can't be any trades showing. The first half hour, nobody traded SKE. In such a case, the charts simply extend the last Closing price, but show zero volume. Not much else that they can do.


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## howmanyru (24 November 2011)

NKP - suspended


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## Punta (24 November 2011)

pixel said:


> If nobody bites, there can't be any trades showing. The first half hour, nobody traded SKE. In such a case, the charts simply extend the last Closing price, but show zero volume. Not much else that they can do.




Yeah I'm not so sure - my IB feed was actually showing it as closed, until 10.55 am, and regardless, the ASX opening calculation would put the open as the reference price if there were no auction entries, not leave it at 0?

I think skyQuake is right, but I can't find anything online about it....


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## pixel (24 November 2011)

howmanyru said:


> NKP - suspended



 OK, that accounts for a few shares, trading halts are another reason.
You can find out about those cases by checking a particular stock at -
http://www.asx.com.au/asx/statistics/announcements.do

That will, sometimes, also illuminate when a share goes into Pre-Open (google it!) for about 10 minutes after a price-sensitive announcement has been released to the Market. Those temporary pre-open states are introduced so traders can digest the information and consider their subsequent move - buy? sell? wait?


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## Punta (24 November 2011)

skyQuake said:


> SKE first trades at 10:55




So why the f-bomb is that then?  I've been googleizing it, but to no avail...

Nice pic/avatar by the way - made me chortle.


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## Smurf1976 (24 November 2011)

Don't forget that we are talking about Sydney time not your local time.


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## Punta (24 November 2011)

Smurf1976 said:


> Don't forget that we are talking about Sydney time not your local time.




Yeah mate, I'm in Sydney.

Another example: ASX lists the open for VRL as 0.0 at 12.53 pm AET.

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=VRL

There's been no announcements that I could find, and as far as I can tell it's been trading away happily over the last few days, albeit with tiny volumes...


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## skc (24 November 2011)

Punta said:


> Yeah mate, I'm in Sydney.
> 
> Another example: ASX lists the open for VRL as 0.0 at 12.53 pm AET.
> 
> ...




Well that tiny volume happens to be 0 today. No trades yet. 

May be that's why ASX is calling the open price $0.

IB might have different way to show prices for shares that haven't traded.


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## Punta (24 November 2011)

skc said:


> Well that tiny volume happens to be 0 today. No trades yet.
> 
> May be that's why ASX is calling the open price $0.
> 
> IB might have different way to show prices for shares that haven't traded.




Yeah I guess that's it - makes sense because if there have been no trades then there is no price.

There goes a few hours that I won't get back...


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