Abstract
This study aims to identify whether there is a causal relationship between the Indonesian stock market and the global stock market during the Covid-19. Quantitative research methods and using secondary data and samples in this study are IHSG (Indonesia), Nikkei-225 (Japan), SHCOM (China), DJA (United States), and FTSE-100 (England) using daily data from January 2-30 June 2020. The empirical research model used to test the hypothesis using Granger Causality. The results showed that the causal relationship between the Indonesian stock market and the Japan and China stock markets, the relationship that occurs is independent or does not influence each other, while with the United States it has a Uni-direction relationship and with England has a Bi-direction relationship. Causality between the China and Japan stock markets has an independent relationship or does not affect each other. The causality between the US and Japan stock markets has a Bi-direction relationship. The causality between the England and Japan stock markets has a Bi-direction relationship. The causality between the US and China stock markets has a Uni-direction relationship. The causality between the England and Chinastock markets has a Uni-direction relationship. The causality between the England and US stock markets has an independent relationship or does not influence each other.
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