The influence of macroeconomic variebles on Malaysian Islamic stock market / Ahmad Syazwan Ahmad Tamizi

This research aims to investigate the relationship of macroeconomic variables on Malaysia Islamic Stock Market by examining consumer price index, industrial product index, money supply, exchange rate, Islamic Interbank Rate as the independent variables wether its influence toward and FTSE Bursa Malaysia Emas Shariah Index as the dependent variable or not. The study is conducted for a period from January 2010 until January 2021 (133 observations) on monthly basis. Secondary data are used in this study which is the data is collected from the website of Thomson Reuters Eikon and Bank Negara Malaysia. Time-series data are used, and Descriptive Analysis, Correlation Analysis and Multiple Regression Analysis are conducted for this research. The finding of this study showed that industrial production index has positive significant impact towards the FTSE Bursa Malaysia Elnas Shariah Index. Meanwhile, money supply. exchange rate and Islamic interbank rate have the opposite result which is insignificant impact to the FTSE Bursa Malaysia Emas Shariah Index. As for consumer price index must be omitted from the model because it has high correlation toward another independent variable.