The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]

This research will focus on the relationship between selected macroeconomic variables and Islamic stock market in Malaysia. The objective of this research is to examine the impact of Aggregate Money Supply (M3), Kuala Lumpur Interbank Offer Rate (KLIBOR), Exchange Rate of Malaysian Ringgit-United St...

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Main Authors:	Ibrahim, Siti Nurulhuda, Abdul Hamid, Zuraini, Mohd Nor, Amirudin, Abd Razak, Noraznira
Format:	Conference or Workshop Item
Language:	English
Published:	2017
Subjects:	Finance, Islamic
Online Access:	http://ir.uitm.edu.my/id/eprint/20127/ http://ir.uitm.edu.my/id/eprint/20127/1/PRO_SITI%20NURULHUDA%20IBRAHIM%20M%2017.pdf

id	uitm-20127
recordtype	eprints
spelling	uitm-201272018-08-15T01:08:39Z http://ir.uitm.edu.my/id/eprint/20127/ The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.] Ibrahim, Siti Nurulhuda Abdul Hamid, Zuraini Mohd Nor, Amirudin Abd Razak, Noraznira Finance, Islamic This research will focus on the relationship between selected macroeconomic variables and Islamic stock market in Malaysia. The objective of this research is to examine the impact of Aggregate Money Supply (M3), Kuala Lumpur Interbank Offer Rate (KLIBOR), Exchange Rate of Malaysian Ringgit-United States Dollar (EXRATE), Industrial Production Index (IPI), Consumer Price Index (CPI), Gold Price (GOLD) and Crude Oil Price (COP), which is combination of monetary, production and commodity toward FTSE Bursa Malaysia Emas Shariah Index (FBMES). In order to achieve the objective, this study applies the Ordinary Least Square using heteroskedasticity robust variance-covariance estimator (VCE robust) and used monthly data over the period of April 2007 - April 2016 from authorized sources which is DataStream (Thompson Reuters). The study revealed that there is a significant relationship between FTSE Bursa Malaysia Emas Shariah Index and the selected variables, namely EXRATE, IPI, CPI, GOLD and COP. However, FTSE Bursa Malaysia Emas Index is found negative, and not significantly affected by KLIBOR. Besides that, we need to exclude M3 due to high correlation with the CPI. This study is important for those market participants, especially for investors and fund manager who need to understand the behavior of the stock market in order to make a right decision in making an investment. 2017 Conference or Workshop Item PeerReviewed text en http://ir.uitm.edu.my/id/eprint/20127/1/PRO_SITI%20NURULHUDA%20IBRAHIM%20M%2017.pdf Ibrahim, Siti Nurulhuda and Abdul Hamid, Zuraini and Mohd Nor, Amirudin and Abd Razak, Noraznira (2017) The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]. In: 2nd International Islamic Heritage Conference (ISHEC 2017), 14-15 November 2017, Avillion Hotel Melaka.
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Finance, Islamic
spellingShingle	Finance, Islamic Ibrahim, Siti Nurulhuda Abdul Hamid, Zuraini Mohd Nor, Amirudin Abd Razak, Noraznira The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]
description	This research will focus on the relationship between selected macroeconomic variables and Islamic stock market in Malaysia. The objective of this research is to examine the impact of Aggregate Money Supply (M3), Kuala Lumpur Interbank Offer Rate (KLIBOR), Exchange Rate of Malaysian Ringgit-United States Dollar (EXRATE), Industrial Production Index (IPI), Consumer Price Index (CPI), Gold Price (GOLD) and Crude Oil Price (COP), which is combination of monetary, production and commodity toward FTSE Bursa Malaysia Emas Shariah Index (FBMES). In order to achieve the objective, this study applies the Ordinary Least Square using heteroskedasticity robust variance-covariance estimator (VCE robust) and used monthly data over the period of April 2007 - April 2016 from authorized sources which is DataStream (Thompson Reuters). The study revealed that there is a significant relationship between FTSE Bursa Malaysia Emas Shariah Index and the selected variables, namely EXRATE, IPI, CPI, GOLD and COP. However, FTSE Bursa Malaysia Emas Index is found negative, and not significantly affected by KLIBOR. Besides that, we need to exclude M3 due to high correlation with the CPI. This study is important for those market participants, especially for investors and fund manager who need to understand the behavior of the stock market in order to make a right decision in making an investment.
format	Conference or Workshop Item
author	Ibrahim, Siti Nurulhuda Abdul Hamid, Zuraini Mohd Nor, Amirudin Abd Razak, Noraznira
author_facet	Ibrahim, Siti Nurulhuda Abdul Hamid, Zuraini Mohd Nor, Amirudin Abd Razak, Noraznira
author_sort	Ibrahim, Siti Nurulhuda
title	The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]
title_short	The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]
title_full	The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]
title_fullStr	The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]
title_full_unstemmed	The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]
title_sort	impact of macroeconomic variables on ftse bursa malaysia emas shariah index / siti nurulhuda ibrahim … [et al.]
publishDate	2017
url	http://ir.uitm.edu.my/id/eprint/20127/ http://ir.uitm.edu.my/id/eprint/20127/1/PRO_SITI%20NURULHUDA%20IBRAHIM%20M%2017.pdf
first_indexed	2023-09-18T23:04:02Z
last_indexed	2023-09-18T23:04:02Z
_version_	1777418362700169216

The impact of macroeconomic variables on FTSE Bursa Malaysia Emas Shariah Index / Siti Nurulhuda Ibrahim … [et al.]

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