Pengaruh Dow Jones Indeks, Strait Time , dan Hang Sheng Terhadap Indeks Harga Saham Gabungan dengan Pendekatan Eror Correction Model

Situngkir, Tiar Lina

doi:10.33753/mandiri.v3i2.92

Cited by 5 publications

(7 citation statements)

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“…Previous research conducted by Situngkir (2019) found that the Dow Jones Index, Strait Times Index, and Hang Seng Index have significant impacts on the Jakarta Composite Index (IHSG) in both the short and long term. Kurniawan (2019) also revealed that the Dow Jones Islamic World Malaysia Index (DJMY25D) and the Dow Jones Islamic Market Japan Index (DJIJP) have positive and significant effects on the Indonesian Islamic Stock Index (ISSI).…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Global Market Reaction to the Indonesian Islamic Capital Market During Covid Outbreak

Habibi

Normasyhuri

Ma'rifah

2023

SJEKI

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The COVID-19 pandemic has impacted the global Islamic capital market, including Indonesia. As a result, it is critical to investigate the global stock market reaction to this issue. This study seeks to comprehend the global Islamic stock market's reaction to the Indonesian Islamic stock market, as represented by the Jakarta Islamic Index (JII), during the COVID-19 outbreak. To test the hypothesis, this study employs the Error Correction Model (ECM) techniques. The findings revealed that the global Islamic stock market had a significant influence on the Indonesian Islamic stock market during that time, both in the short and long term. This is due to the Islamic stock market's interconnected nature, which attracts investors as it allows foreigners to own Islamic stocks in Indonesia, and also offers valuable long- and short-term prospects. In addition, the globalization of the world economy, social and political relations are interrelated between countries, especially in the era of COVID-19. Because the outbreak was unavoidable, it caused global economic chaos and extreme crises, including investments in the Islamic stock market. In light of crisis, the findings of this study can be used as practical guidance for investors considering investing in the Islamic stock market.============================================================================================================== ABSTRAK - Reaksi Pasar Global Terhadap Pasar Modal Syariah Indonesia Dalam Masa Covid-19. Pandemi COVID-19 berdampak pada pasar modal syariah global, termasuk Indonesia. Oleh karena itu, kajian yang berkaitan dengan hal tersebut sangat penting dilakukan. Penelitian ini bertujuan untuk mengkaji reaksi pasar modal syariah global terhadap pasar modal syariah Indonesia yang diwakili oleh Jakarta Islamic Index (JII) dalam masa COVID-19. Untuk menguji hipotesis, penelitian ini menggunakan teknik Error Correction Model (ECM). Hasil temuan menunjukkan bahwa pasar modal syariah global memiliki pengaruh signifikan terhadap pasar modal syariah Indonesia, baik dalam jangka pendek maupun jangka panjang. Hal ini disebabkan oleh sifat interkoneksi pasar modal syariah, yang menarik investor karena memungkinkan orang asing untuk memiliki saham syariah di Indonesia, dan juga menawarkan prospek jangka panjang dan jangka pendek yang menguntungkan. Selain itu, akibat globalisasi ekonomi, hubungan sosial dan politik antar negara saling berkaitan, terutama di era COVID-19. Karena pandemi tersebut tidak terhindarkan, kondisi ekonomi global dan krisis terjadi dalam berbagai sektor, termasuk pasar modal syariah. Temuan penelitian ini berimplikasi sebagai pedoman praktis bagi investor dalam berinvestasi di pasar modal syariah di Indonesia.

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Section: Hypothesis Developmentmentioning

confidence: 99%

Global Market Reaction to the Indonesian Islamic Capital Market During Covid Outbreak

Habibi

Normasyhuri

Ma'rifah

2023

SJEKI

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“…Menjaga stabilitas ekonomi terkait dengan perkembangan sektor keuangan, beberapa indikator perlu diperhatikan, khususnya dalam konteks pasar modal (Situngkir et al, 2020). Pasar modal memiliki peran yang sangat penting dalam ekonomi suatu negara, karena ia memenuhi dua fungsi utama.…”

Section: Pendahuluanunclassified

Pengaruh Kenaikan Suku Bunga the Fed, Harga Minyak Dunia terhadap IHSG dalam Pergerakan Pasar Modal

Kurniasari,

Yanna Eka Pratiwi,

Siwidyah Desi Lasianti

2023

JENSI

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This study aims to determine the simultaneous and partial effects of The Fed Interest Rate, World Oil Prices, and World Gold Prices on the Composite Stock Price Index (CSPI), as well as identifying the dominant independent variable. The study's population includes The Fed Interest Rate, World Oil Prices, World Gold Prices, and the CSPI. The sample comprises all available data on The Fed Interest Rate, World Oil Prices, World Gold Prices, and the closing values of the CSPI at the end of each month from January 2019 to December 2022. The research employs a multiple linear regression analysis model processed using the SPSS 16 program. Hypothesis testing is conducted using statistical tests. The study's findings lead to several conclusions: (1) The Fed Interest Rate and World Oil Prices have a significant partial effect, whereas World Gold Prices do not significantly affect the CSPI on a partial basis. (2) Collectively, The Fed Interest Rate, World Oil Prices, and World Gold Prices significantly influence the CSPI. (3) Among the independent variables, The Fed Interest Rate emerges as the dominant factor affecting the CSPI.

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“…Variabel Indeks Dow Jones, Indeks Nikkei, indeks SSEC, Indeks Starit Time dan Minyak Mentah berpengaruh terhadap IHSG, namun variabel indeks Nikkei, Indeks SSEC, dan minyak mentah berimplikasi negative. Situngkir (2019), menemukan hasil bahwa Indeks Dow Jones berpengaruh positif tidak signifikan baik dalam jangka pendek maupun panjang. Lalu Indeks Strait Time berpengaruh positif signifikan dalam jangka penek maupun jangka panjang.…”

Section: Pengaruh Indeks Ftse 100 Terhadap Indeks Harga Saham Gabunganunclassified

“…Sedangkan dalam jangka panjang, Singapura merupakan bagian atau anggota ASEAN dimana mereka memiliki perjanjian ekonomi yang dinamakan AFTA (Perjanjian Ekonomi Perdagangan Bebas). Dalam jangka pendek, penelitian ini didukung oleh penelitian dari Budi (2019), Widodo (2017), Herlianto & Hafizh (2020), dang Zikri dkk (2020) sedangkan dalam jangka panjang didukung oleh Kowanda dkk (2014) dan Situngkir (2019).…”

Section: Pengaruh Indeks Strait Time (Sti) Terhadap Ihsgunclassified

“…Pasar modal di Hong Kong berkembang sangat cepat dan lebih unggul dari Indonesia, hal tersebut terbukti dengan adanya para investor dari Eropa lebih tertarik karena adanya pembukaan pasar keuangan investor asing sebagai peluang internasional. Penelitian ini didukung oleh hasil penelitian dari Situngkir (2019), Widodo (2017), Zikri dkk (2020).…”

Section: Pengaruh Indeks Hang Seng (Hsi) Terhadap Ihsgunclassified

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Analisis pengaruh indeks saham asing terhadap indeks harga saham gabungan dengan pendekatan Error Correction Model

Nuraeni

Panjawa

2021

jerps

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The Composite Stock Price Index (IHSG) is a composite index of many shares listed on the stock exchange and their movements show conditions that occur in the capital market. JCI is confident of macroeconomic factors and foreign exchange indexes. The purpose of this study was to analyze the effect of the Dow Jones Index, the Straits Time Index, the Hang Seng Index, the Nikkei 225 Index, and the FTSE 100 Index on the composite price index. The research method used is the Error Correction Model (ECM). In the short term, the DJIA and FTSE 100 variables have a positive effect on the JCI, the STI and Hang Seng variables have no significant on the JCI, while the Nikkei 225 has a negative effect on the JCI. In the long term, the DJIA and STI variables have a positive effect on the IHSG, the JSI and FTSE 100 variables have no effect on the IHSG, while the Nikkei 225 variable has a negative effect on the JCI.

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Pengaruh Dow Jones Indeks, Strait Time , dan Hang Sheng Terhadap Indeks Harga Saham Gabungan dengan Pendekatan Eror Correction Model

Cited by 5 publications

References 0 publications

Global Market Reaction to the Indonesian Islamic Capital Market During Covid Outbreak

Global Market Reaction to the Indonesian Islamic Capital Market During Covid Outbreak

Pengaruh Kenaikan Suku Bunga the Fed, Harga Minyak Dunia terhadap IHSG dalam Pergerakan Pasar Modal

Analisis pengaruh indeks saham asing terhadap indeks harga saham gabungan dengan pendekatan Error Correction Model

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