Abstract

This study aims to analyze the effect of macroeconomic factors on Jakarta Islamic Index. The macroeconomic factors are Word Oil Prices, Bank Indonesia Interest Rate, Inflation and Exchange Rate. The method used in this study is a quantitative approach, where data obtained from the Yahoo Finance, Investing Stocks and Forex, Statistic Indonesia and Bank Indonesia. The data used are time series from 30 June 2014 to 31 May 2018, which is 48 observation period. The statistical tool used is multiple linear regression using SPSS.20. The result shows that Word Oil Prices, Bank Indonesia Interest Rate and Exchange Rate have significant effect and negative relation on Jakarta Islamic Index, while Inflation has no significant effect on Jakarta Islamic Index. Simultaneously, these macroeconomic factors also have a significant effect on Jakarta Islamic Index.