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NYSE to HK/SG - Relationship?

$NIO Inc (NIO.US)$  how do shares correlate in HK and SG to NYSE? If HK is up 12%, how do NYSE shares respond before the bell? Is there any lag between the markets?
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  • SebTheTraderOuf : ADR

  • doctorpot1 : US Nio, HK Nio and SG Nio, all have a 1 to 1 conversion rate. So their price will be equal to each other. However because market open at different time there will be some difference when the market it closed. However, once market is open you will see the price immediate sync up. This is because of arbitrage, if say HK Nio has a higher price while US Nio is lower in price, people will sell HK Nio, buy US Nio, then convert US Nio to HK Nio, thus earning risk free profit.
    These are usually done by bots which will arbitrage within milliseconds, so for us retail investors hard to get such deal.

  • Evelynne : don't know why trend

    But bullish anyway