Analisis Pengaruh Macro-Economi, Pasar Komoditas dan Indeks Saham Asia terhadap Indeks Harga Saham Gabungan Tahun 2018-2022

Abstract

IDX Composite (IHSG) is a combination of several stocks serving as a benchmark for the development of stocks on a capital market. The movement of the composite stock price index tends to decline over the period 2020. However, during this period. the IDX Composite also shows a sharp fall throughout 2020 and rose again in 2021. Therefore, it is intriguing to discuss inflation and exchange rates, interest rates, world oil prices, gold prices and Asian stock indices. The research sample is the TDX Composite. The type of data in this study is time series data collected from January 2018 to December 2022. The data analysis used is a time­ series data analysis using the Error Correction Model (ECM) using the eviews 10 application The results of the study prove that ( / ) inflation has negative and significant effects on the IDX Composite, (2) exchange rate has negative and insignificant effects on the IDX Composite, (3) lnterest rates have negative and significant effects on the IDX Composite, (4) World oil prices have negative and significant effects on the Jakarta Index Composite. (5) The price of gold has negative and significant effects on the IDX Composite. (6) Nikkei 225 has positive and insignificant effects on IDX Composite, (7) KLCE has negative and insignificant effects on IDX Composite, (8) Hang Seng has positive and insignificant fleets on IDX Composite, (9) KOSPJ has negative and insignificant effects on the IDX Composite.