THE INFLUENCE OF HANG SENG INDEX, SHANGHAI INDEX, WORLD GOLD PRICE AND MACROECONOMIC FACTORS TOWARD JAKARTA COMPOSITE INDEX

Abstract

This research aimed to analyze the effect of Hang Seng Index, Shanghai Index, World Gold Price and Macroeconomic toward Jakarta Composite Index. There are five independent variables within this research which are being examined by descriptive statistical analysis, classical assumption test, multiple linear regression and hypothesis testing. This research used quantitative research through purposive sampling and panel data which was obtained from official websites. This research has 84 observations from Hang Seng, Shanghai, Exchange rate, Inflation and World gold price in seven years 2010-2016 monthly data. An empirical evidence of this research indicates that Hang Seng index, Exchange rate, World gold price has partially jointly positive influence to Jakarta Composite Index, while Shanghai index and Inflation has significant negative influence to Jakarta Composite index. Simultaneously, all of the independent variables has jointly influence to the Jakarta Composite Index, described by 82.0366% and the rest of 17.96634% is affect by other variables which are not using in this research.