Pengaruh Covid-19, Nilai Tukar Rupiah dan Indeks Harga Saham Gabungan Asing Terhadap Indeks Harga Saham Gabungan Indonesia (IHSG)

Abstract

The first Covid-19 case appeared in Wuhan China at the end of 2019 and spreading throughout the world including Indonesia. This epidemic caused panic among the government, society and the business world. The response of the community and government in making preventive efforts, are social distancing and the imposition of Large-Scale Social Restrictions (PSBB) in various regions in Indonesia, which ultimately causes the economic cycle to slow down. The rapid spread of the Covid-19 outbreak in Indonesia had a major impact on the economic sector, especially the financial market. High uncertainty in financial markets is reflected in the volatility of the Composite Stock Price Index (IHSG). Several other external economic factors that also had an impact on the IHSG were the rupiah exchange rate and the foreign stock index. This study aims to analyze the effect of Covid-19, the rupiah exchange rate, the Shanghai composite index or SSE (SSEC), the New York composite index or NYSE (NYA) on the movement of the Composite Stock Price Index (IHSG). Secondary data collection was obtained from daily data for the period March - November 2020. The data analysis method used was descriptive statistic, multiple linear regression analysis, classical assumption test and hypothesis testing using the F test and t test. The results showed that the number of cases of Covid-19 in Indonesia, the rupiah exchange rate, the Shanghai or SSE composite index (SSEC), the New York or NYSE (NYA) composite index either simultaneously or partially had an influence on the Indonesian Composite Stock Price Index (IHSG). Keywords: Covid-19, IHSG, rupiah exchange rate, NYA, SSEC