PENGARUH VARIABEL MAKRO EKONOMI TERHADAP PERGERAKAN INDEKS DI BURSA EFEK INDONESIA: PERBANDINGAN INDEKS LQ 45 DENGAN JAKARTA ISLAMIC INDEX

The macro economics factors have impact on stock exchange market. The ability of investor in understanding and predicting the future economics factor is useful for the investment decision. The objective of this research is to find the effects of inflation, interest rates, money supply and exchange rates on LQ 45 and Jakarta Islamic Index in Indonesia Stock Exchange.The data analysis used multiple regresssion. Using the data for period 2010-2013, The results of this study indicate that variable inflation and money supply have a positive significant influence on LQ 45 and Jakarta Islamic Index, exchange rate have a negative significant influence on LQ 45 and Jakarta Islamic Index, while interest rate have a negative significant influence on Jakarta Islamic Index, but negative unsignificant influence on LQ 45. The study have implication that investor should consider make economic factor when must on stock in LQ 45 and Jakarta Islamic Index. Key words : macro economic variables, inflation, interest rate, money supply, exchange rate, LQ 45 and Jakarta Islamic Index