I am looking at the following ETF : NDQ (in ASX exchange). It is an ETF that tracks the Nasdaq and is traded in the ASX (Australia). It is NOT currency hedged against the USD.
On the 9 Jan 2019, Nasdaq closed with a gain of .87%. When the market opened in Australia the NDQ was actually down by .4 % (the Nasdaq futures at the same was pretty much unchanged since the last close). Large volumes of trade has happened for the NDQ etf, so liquidity would not be an issue.
What is causing NDQ to be down where I am expecting it to be up ?