US Financial institutions crisis in 2008
th
affected Indonesian Capital Market, as
indicated by a sharp decline in composite stock price index
(
JCI
)
.The composite stock price
index
(
JCI
)
dropped dramatically, from early in the year 2830 amounted to decline to 1,355 by
the end of 2008. The decline of this index followed the weakening of the rupiah which has been
through the numbers up to Rp. 12.212 in November 2008. The bond market, both government
and corporations, also depressed cause large losses in banks and other bondholders because the
calculation of the adjusted current market value
(
mark-to-market
)
.
This study aims to examine and analyze the effect of the macroeconomic
indicators
(
exchange rate/US $, interest rate
(
SBI
)
, and inflation
)
to the composite stock price
index
(
JCI
)
and financial sector stock price index
(
FCI
)
in Indonesian Stock Exchange
(
BEI
)
in
the period January 2007 - August 2010. The research shows that the exchange rate and interest
rate a significant negative effect to the composite s tock price index
(
JCI
)
and financial sector
stock price index
(
FCI. While inflation a not significant effect to the composite s tock price index
(
JCI
)
and financial sector stock price index
(
FCI
)
.