Sentiment Analysis on Islamic Stock Exchange During Covid-19

Abstract

During the ongoing COVID-19 pandemic in Indonesia, the financial services sector is still maintained. One of the indicators is the market capitalization value of the Islamic stock market. Based on The Financial Services Authority (OJK) data, in October 2020, the market capitalization value of sharia shares reached IDR 3.061 trillion (51.4%) from the existing IDR 5.957 trillion. The Islamic capital market that continues to develop is an essential component in the national and global financial system. This is evident from the continued capital market assets from year to year. This study aims to determine sentiment towards the Islamic Stock Exchange in the last three years, from 2020 to 2022. There has not been sentiment research on this theme based on the existing literature. The method used is a description of the analysis in a meta-analysis and sentiment from secondary data in metadata from 154 Dimension.ai indexed articles, then processed using Microsoft Excel 2019 and SentiStrength software. The sentiment analysis results show that the expert opinion about Islamic Stock Exchange has a neutral sentiment of 39.6%, a good sentiment (positive) of 37.0%, and the rest have a bad sentiment (negative) of 23.4%. Based on the study results, it was found that the Islamic Stock Exchange trend in the Islamic capital market continues to increase and shows positive performance in economic recovery due to the impact of the COVID-19 pandemic.