Analysis Of The Influence Or Foreign Stock Index Movement, Level Of Inflation, World Crude Oil Prices, Idr Exchange Rate Against Usd, Against The Jakarta Composite (JCI) At The Indonesia Stock Exchange (IDX)

Abstract

Composite Stock Price Index (Jakarta Composite Index) is a combined value of stocks listed on the Indonesia Stock Exchange (IDX), which indicates the movement that occurred in the capital market. The purpose of this study is to investigate and analyze the movement of foreign stock indices (Dow Jones, Nikkei, New York Stock Exchange, Nasdaq and Footsie), level of inflation, world crude oil prices, IDR exchange rate against partially and simultaneously influence the movement at the Jakarta Composite Index (JCI) in IDX, based on data from 2008 to 2011 with the period of observation Mey 2008 – June 2011. The method used in this research is descriptive research method (research that attempt to describe the characteristics of a data) and inferential research method (research by drawing conclusions and testing hypotheses), using guantitative secondary data consisting of the Foreign Exchange Index (Dow Jones, Nikkei Jepang, New York Stock Exchange, Nasdaq, Footsie 100, and the World Crude Oil Prices) as a variable external factors and the IDR Exchange Rate against USD, The Level of inflation as a variable internal factors in countries using the SPSS Version 17. Data processing was done dy testing the assumptions of classical and multiple linear regression to compare two methods: enter and backward methods to obtain the best research model for futher hypothesis testing. The results indicate that (1) the factors that influence the movement of the partial index in a row is the Nasdaq, Nikkei, the IDR Exchange Rate against USD, Dow Jones index, (2) taken together these factors give the effect of 94,9% and the rest equal 5,1% influenced by other factors beyond the variables studied.