Analysis of the Influence of Macro Variables on the JCI

Abstract: The Jakarta Composite Index (JCI) serves as a representation of general stock price movements on the Indonesia Stock Exchange (IDX). JCI fluctuations are influenced by individual company performance and various macroeconomic factors. This study aims to examine the macroeconomic variables that influence the JCI movement in Indonesia over a 15-year period (2010 to 2024). The research method used was the t-test, ANOVA test, and coefficient of determination. The macro variables studied were GDP, BI7Days, Inflation, and the Dollar Exchange Rate using SPSS version 26 software. The results show that GDP and BI7Days significantly influence the JCI and simultaneously significantly influence the JCI. Meanwhile, inflation and the Dollar Exchange Rate did not significantly influence the JCI movement from 2010 to 2024 on the Indonesia Stock Exchange.