scholarly journals The Influence of Global Stock Index and the Economic Indicators of Stock Investment Decision by Foreign Investors in the Indonesian Stock Exchange

2017 ◽  
Vol 2 (1) ◽  
pp. 32-37
Author(s):  
Sulaeman Rahman Nidar ◽  
Erwin Jaya Diwangsa
Keyword(s):  
Exchange Rate ◽  
Global Economy ◽  
Stock Exchange ◽  
Investment Decision ◽  
Oil Prices ◽  
Stock Index ◽  
Fund Flows ◽  
Jones Index ◽  
Negative Effect ◽  
Global Stock

Objective - The objective of this study is to determine how the movement of several indices and indicators of the global economy affect the change in investment by foreign fund flows in the Indonesia Stock Exchange (BEI). Methodology/Technique - Some global stock indices used in this study comprise the Dow Jones index, the Nikkei 225 index, the Shanghai index (SSE) and the Singapore Index (STI). Data were taken monthly from March 2009 to June 2014. Findings - The results obtained from this study indicate that the Dow Jones index and the STI index have a significant positive effect on the movement of foreign investmentsin the Stock Exchange. In contrast, the movement of world oil prices and exchange rate of the IDR/USD have a significant negative effect on the movement of foreign investments in the BEI. Novelty - The results of this study reinforces that the depreciation of the rupiah against the USD is an indication that the fundamentals of the Indonesian economy is not strong enough. Type of Paper: Empirical Keywords: Dow Jones, Nikkei 225 Index, Shanghai Index (SSE), STI Index, World Oil Prices, World Gold Price, Exchange Rate IDR/USD

scholarly journals Analysis of Global Stock Exchange Index, Foreign Exchange Rate, Interest Rate and Inflation Rate Influences CSPI in Indonesia Stock Exchange (Period of January 2014 – 2015)

2019 ◽  
Vol 4 (6) ◽  
Author(s):  
Dahlia Br. Pinem
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Interest Rates ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Developed Countries ◽  
Stock Index ◽  
Stock Price Index ◽  
Global Stock

The economics of one country with other countries are interconnected because of the business relationship, especially since the developed countries greatly affect the economics of developing countries, so that the stock market in developed countries such as Dow Jones (DJIA) index, Footsie London Index (FTSE), Singapore Index (STI), Tokyo Nikkei Index (N225), Korea KOSPI Index (KS11), Hang Seng Hongkong Index (HSI) affect the Composite Stock Price Index (CSPI). The purpose of this study is to determine the influence of global stock indices on the Composite Stock Price Index (CSPI). In addition to the global macroeconomics index of Indonesia's Stock Index like the US Dollar against the rupiah, interest rates greatly affect the Composite Stock Price Index. The method of the sample research was conducted by judgment sampling. Hypothesis testing in this research is conducted by Multiple Regression. The results obtained simultaneously (F test) variables (FTSE, Dow Jones index, STI, KS 11, Hangseng, Nikkei 225, Dollar/USD exchange rate, interest rate, Inflation) have a significant effect on CSPI. Yet, only partially variable interest rate is not significant, while the other partially affects the CSPI.

scholarly journals Faktor Makro Ekonomi Yang Mempengaruhi Pergerakan Harga Saham Pada Indeks Saham Syariah Indonesia (ISSI) di Bursa Efek Indonesia (BEI)

2015 ◽  
Vol 2 (11) ◽  
pp. 928
Author(s):  
Martien Rachmawati ◽  
Nisful Laila
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Price ◽  
Time Series Data ◽  
Stock Exchange ◽  
Stock Index ◽  
Series Data ◽  
Regression Result ◽  
Statistical Tool ◽  
Negative Effect

The capital market presence is such an important concern for many country because it relate to its function as economic booster through investation. This study aims to analyze macro economic factors that can affect the movement of stock price at Indonesia Sharia Stock Index in Indonesia Stock Exchange as the inflation factor, SBI interest rates and exchange rates. The method used in this research is quantitative approaches in which data is obtained from Indonesia Stock Exchange and Bank of Indonesia. The data used is the time series data starting from January 2012 to April 2015. The statistical tool used is multiple linear regression. Result showed that partially inflation is not significant and have a negative relation toward ISSI’s stock price, SBI interest rate is not significant and have a positive relation toward ISSI’s stock price, exchange rate significantly influence the stock price at Indonesia Sharia Stock Index (ISSI) and have a negative effect. Simultaneously, both variable inflation rate, SBIinterest rate and the exchange rate significantly influence the stock price’s movement at Indonesia Sharia Stock Index (ISSI).

scholarly journals Impact of Macroeconomic Variabel and Global Indices on Islamic Stock Index: The Case Indonesia

2020 ◽  
Vol 4 (1) ◽  
pp. 45
Author(s):  
Muhammad Sanusi ◽  
Jihad Jihad ◽  
Imron Mawardi
Keyword(s):  
Interest Rates ◽  
Stock Price ◽  
Stock Exchange ◽  
Secondary Data ◽  
Stock Index ◽  
Quantitative Methodology ◽  
Stock Indices ◽  
Negative Effect ◽  
Positive Effect ◽  
Global Stock

Introduction to The Problem: The movement of the Islamic stock index can be influenced by changes in domestic macroeconomic conditions, not only domestic macroeconomics but also influenced by the stock markets of other countries.Purpose/Objective Study: The main objective of this study is to analyze the influence of the domestic macroeconomic and global stock indices on the Indonesian sharia stock index.Design/Methodology/Approach: This study uses a quantitative methodology with secondary data. The data sample method is saturated sample that all members of the population are used to be the research sample. The type of research data is monthly time series with a time period from May 2011 - July 2019, the selection of the Vactor Error Correction Model (VECM) research method based on the stationarity of the data on the first difference and the existence of cointegration models.Findings: The results showed in the short term all variables did not show a significant effect. In the long run, interest rates have a negative effect, while the exchange rate shows a positive effect on the movement of Islamic stock price indexes. Global stock indices such as the Shanghai Stock Exchange Index show a negative effect, and the Standard & Poor's 500 index shows a positive effect. While the Nikkei 225 index did not show a significant effect on the Indonesian Islamic stock index.

scholarly journals The Effect of Exchange Value on the Stock Index Listed in Indonesia Stock Exchange during Covid-19 Pandemic

2021 ◽  
Vol 2 (1) ◽  
pp. 6-14
Author(s):  
Zahra Zhafira ◽  
Einde Evana ◽  
Ratna Septiyanti
Keyword(s):  
Regression Analysis ◽  
Exchange Rate ◽  
Linear Regression ◽  
Exchange Rates ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Stock Index ◽  
Simple Linear Regression ◽  
Simple Linear Regression Analysis ◽  
Stock Indices

This study aims to examine the effect of exchange rates on the stock index during the Covid-19 pandemic. This research was conducted using secondary data. The population in this study were all stock indices listed on the Indonesia Stock Exchange with a sample size of 89 and a total stock index of 34. The study period was 4 months, 17 January 2020 to 20 May 2020. The sample data collection of this study used the purposive method. Sampling with world economic conditions and Indonesia which are weakening due to the Covid-19 pandemic and based on the phenomenon that the exchange rate is experiencing a continuous movement even every year the exchange rate depreciates IDR against the US Dollar. One of the causes of the high fluctuation of the rupiah exchange rate against the dollar came from economic factors such as inflation, the interest rate on Bank Indonesia certificates during the Covid-19 pandemic. This study uses a simple linear regression analysis method using SPSS V.26. The results of simple linear regression analysis show that exchange rates have a negative and significant effect on all stock indices listed on the Indonesia Stock Exchange, these results have similarities or differences with the results of research in other emerging market countries.

scholarly journals Analisis Pengaruh Nilai Tukar Rupiah, Inflasi Dan Indeks Dow Jones Terhadap Indeks Harga Saham Gabungan (IHSG) Di Bursa Efek Indonesia (BEI)

KINDAI ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. 542-562
Author(s):  
Delila Putri Syarina
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Stock Price ◽  
Quantitative Method ◽  
Price Index ◽  
Stock Exchange ◽  
Sampling Techniques ◽  
Jones Index ◽  
Stock Price Index

Abstract: This study aims to study both partially and simultaneously, large, Analysis, Analysis, Value, Exchange, Inflation, and the Dow Jones Index Against the Composite Stock Price Index (CSPI) on the Indonesia Stock Exchange (BEI) and the dominant dominant variable on the Price Index Joint Stock (CSPI)).The method used in this study is a quantitative method and with a population of 10 (ten) years, samples were taken with census sampling techniques of 10 (ten) years per year-end period, research instruments using classical data assumptions - data used using regression linear multiple.The results of this study indicate that (1) Rupiah Exchange Rates, Inflation and the Dow Jones Index influence simultaneously on the Composite Stock Price Index (CSPI) on the Indonesia Stock Exchange (2) the Dow Jones Index is partially related to the Composite Stock Price Index (CSPI) in The Indonesian Stock Exchange, while the Rupiah Exchange Rate and Inflation are not partially on the Composite Stock Price Index (CSPI) on the Indonesia Stock Exchange (3) The dominant dominant variable on the Composite Stock Price Index (CSPI) on the Indonesia Stock Exchange is the Dow Jones Index..Keywords  : Rupiah Exchange Rate, Inflation, Dow Jones Index and Composite Stock Price Index (CSPI)   Abstrak: Penelitian ini bertujuan untuk mengetahui baik secara parsial dan simultan seberapa besar Analisis Pengaruh Nilai Tukar Rupiah, Inflasi Dan Indeks Dow Jones Terhadap Indeks Harga Saham Gabungan (IHSG) Di Bursa Efek Indonesia (BEI) serta variabel yang berpengaruh dominan terhadap Indeks Harga Saham Gabungan (IHSG). Metode yang digunakan dalam penelitian ini adalah metode kuantitatif dan dengan populasi sebanyak 10 (sepuluh) tahun, diambil sampel dengan teknik sampling sensus sebanyak 10 (sepuluh) tahun per periode akhir tahun, instrument penelitian uji asumsi klasik data – data diuji dengan menggunakan regresi linear berganda. Hasil penelitian ini menunjukkan bahwa (1) Nilai Tukar Rupiah, Inflasi dan Indeks Dow Jones berpengaruh secara simultan terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia (2) Indeks Dow Jones berpengaruh secara parsial terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia, sedangkan Nilai Tukar Rupiah dan Inflasi tidak berpengaruh secara parsial terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia (3) Variabel yang berpengaruh dominan terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia adalah Indeks Dow Jones. . Kata kunci :     Nilai Tukar Rupiah, Inflasi, Indeks Dow Jones dan Indeks Harga Saham Gabungan (IHSG).

scholarly journals AN EMPIRICAL STUDY ON THE DYNAMIC RELATIONSHIP BETWEEN CRUDE OIL PRICES AND NIGERA STOCK MARKET

2016 ◽  
Vol 4 (9) ◽  
pp. 157-169
Author(s):  
Rabia Najaf ◽  
Khakan Najaf
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Stock Exchange ◽  
Oil Prices ◽  
Securities And Exchange Commission ◽  
Exchange Rate Policy ◽  
Trading System ◽  
Dynamic Relationship ◽  
Crude Oil Prices ◽  
Oil Crisis

In this paper, we have examined the crude oil price on the performance of Nigerian stock exchange and exchange rate act as the plausible countercyclical tool .we have applied the different models and collected the results that crude oil prices have direct impact on the stock exchange of Nigeria. The   Nigeria stock exchange is regulated by the Securities and Exchange Commission .Nigeria stock exchange has the automated trading system. The basic facility of Nigeria trading system is (ATS),it is helpful to remote trading system.Consequently, most of the investorsdo trade with the method of ATS.This study is also proving that Nigeria stock exchange has influenced on the performance of the economy, Impact of oil crisis on the Nigeria stock exchange, Impact of crude oil crisis on the development of country, Effect of exchange rate policy on the performance of Nigeria stock exchange.

scholarly journals ANALYSIS OF THE INFLUENCE OF INTEREST RATE, EXCHANGE VALUE, WORLD GOLD PRICES, DOW JONES INDEX, AEX INDEX, DAX INDEX, AND SHANGHAI INDEX ON LQ45 INDEX IN INDONESIA STOCK EXCHANGE 2012 – 2018

2021 ◽  
Vol 7 (2) ◽  
pp. 135
Author(s):  
Andini Nurwulandari ◽  
Hasanudin Hasanudin ◽  
Ari Jatmiko Setiyo Budi
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Exchange ◽  
Negative Influence ◽  
Positive Influence ◽  
Gold Price ◽  
Jones Index ◽  
Exchange Value ◽  
The Interest Rate ◽  
Significant Positive Influence

<p><em>This research aims to find out the influence of interest rate, exchange rate, world gold price, Dow Jones Index, AEX Index, DAX Index, and Shanghai Index on the LQ45 Index at the Indonesia Stock Exchange from 2012 through 2018 using the ARCH/GARCH model as the method of analysis.  The result of the test shows that the exchange rate had a significant negative influence, Dow Jones Index, AEX Index, and DAX Index had a significant positive influence on the LQ45 index, while the interest rate and world gold price had a non-significant negative influence and the Shanghai Index had a non-significant positive influence on the LQ45 index.</em></p>

scholarly journals Perbandingan Pengujian Capital Asset Pricing Model dan Arbitrage Pricing Theory

2016 ◽  
Vol 1 (1) ◽  
pp. 51-66
Author(s):  
Puji Hartoyo
Keyword(s):  
Exchange Rate ◽  
Stock Returns ◽  
Standard Error ◽  
Stock Exchange ◽  
Investment Decision ◽  
Secondary Data ◽  
Statistical Testing ◽  
Arbitrage Pricing Theory ◽  
Average Deviation ◽  
Main Determinants

The purposes of this study are to assess the effect of each risk on stock returns and to investigate the equilibrum model that has a smaller standard error. The verificative type of this research used is to verify the hypothesis through data processing and statistical testing. Research data were obtained from secondary data of Indonesia Stock Exchange. The results show that the markert risk and exchange rate premium variables have significant effects as shown in the hypothesis; on the contrary, the SMB, HML and premium inflation variables are not the determinants of stock returns. Meanwhile, the Mean Average Deviation test has proven that the CAPM has a smaller standard error rate than the APT; nevertheless, the average difference test has shown insignificant different rate. This research suggests that market risk and exchange rate premium factors are the main determinants of investment decision. In addition, to maintain the confidence of the investors, a company should maintain the stability of income because the SMB and HML factors are neglected in the investment decision. Abstrak Tujuan penelitian ini untuk mengkaji pengaruh masing – masing risiko terhadap return saham serta melihat model keseimbangan mana yang mempunyai standard error yang lebih kecil. Jenis penelitian ini adalah verifikatif yaitu dengan melakukan hipotesis melalui pengolahan data dan pengujian secara statistik. Data penelitian diperoleh dari data sekunder. Dari hasil penelitian, diperoleh hasil bahwa variabel risiko pasar dan premi kurs berpengaruh secara signifikan dan sesuai dengan hipotesis, sedangkan variabel SMB, HML dan premi inflasi bukan determinan return saham. Hasi pengujian lain dengan menggunakan Mean Average Deviation membuktikan bahwa model keseimbangan CAPM mempunyai tingkat standard error yang lebih kecil daripada APT, namun dengan uji beda rata-rata menunjukkan perbedaan yang tidak signifikan. Penelitian ini memberikan masukan kepada investor bahwa faktor yang perlu untuk diperhatikan sebelum melakukan investasi saham adalah dengan lebih memperhatikan faktor risiko pasar dan premi kurs. Sedangkan bagi perusahaan agar tetap mengusahan stabilitas laba untuk menjaga kepercayaan investor, karena faktor SMB dan HML kurang diperhatikan investor dalam mengambil keputusan berinvestasi.

Analisis Pengaruh Inflasi, Nilai Tukar Rupiah, dan BI-Rate terhadap Harga Indeks Saham Syariah Indonesia

2021 ◽  
Vol 4 (2) ◽  
pp. 47-56
Author(s):  
Fifi Afiyanti Tripuspitorini
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Partial Least Square ◽  
Least Square ◽  
Stock Index ◽  
Macroeconomic Factors ◽  
Negative Effect ◽  
Monthly Period

Islamic investment is experiencing an upward trend from year to year. Many investors are starting to look at Islamic stocks. One of the Islamic stocks in Indonesia is the Indonesian Sharia Stock Index (ISSI). Investors must have many careful considerations to invest. One of the factors that may influence stock prices is macroeconomic factors. This study aims to determine how macroeconomic variables in the form of inflation, the rupiah exchange rate against the dollar, and Bank Indonesia interest rates can affect the ISSI stock price. This study uses a quantitative data approach. The data is obtained from the Sharia Stock Index (ISSI) in the monthly period January 2016 to December 2018.Meanwhile, data analysis used Partial Least Square (PLS) with the help of WarpPLS. The results showed that inflation and the rupiah exchange rate had no effect on the ISSI stock price. while the BI rate has a significant negative effect on the ISSI stock price.

THE EFFECT OF INFLATION, USD AND YUAN EXCHANGE RATE, CRUDE OIL WTI AND ICP TO INDICES SECTORAL RETURNS IN INDONESIAN STOCK EXCHANGE

2018 ◽  
Vol 27 (1) ◽  
pp. 63
Author(s):  
Iwan Yudianto ◽  
Harjum Muharam ◽  
Sugiono Sugiono
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Stock Return ◽  
Stock Exchange ◽  
Causality Test ◽  
Significant Negative Effect ◽  
Index Stock ◽  
Consumption Index ◽  
Negative Effect ◽  
Financial Index

This study aimed to see whether there is an influence between macro economic variables include changes of USD / IDR exchange rate, change of CNY / IDR exchange rate, inflation change, change of WTI crude oil and change of ICP crude oil to return of sectoral indices, represented by return of consumption index stock, return of financial index stock, return of infrastructure index stock and return of trade and service index stock. In addition, this study also tested whether there is a causal relationship of one or two directions of endogenous variables. Period in this study began from July 2009 - December 2017 (102 months). The Hypothesis testing of this study use Vector Autoregressive (VAR) method with Eviews 9 software.The result of the research concludes that the change of USD / IDR exchange rate have a significant negative effect on return of consumption index stock, return of financial index stock, return of infrastructure index stock and return of trade and services index stock. Changes of the CNY / IDR exchange rate have a significant negative effect on return of consumption index stock and return of financial index stock. Inflationary change have a significant negative effect on return of financial index stock and return of trade & service index stock. The change of crude oil WTI and ICP crude oil have no significant effect on all sectors. In the Granger causality test, it is found that the return of trade and services index stock has one way causality relationship to the return of infrastructure index stock.

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