Does Macroeconomic Fluctuation Matter for The Composite Stock Price Index?

This study aims to investigate the effect of interest rates, inflation, rupiah exchange rate, money supply, and exports on composite stock price index (CSPI) in Indonesia. The data used is secondary obtained from Indonesian Statistics Agency (BPS) Central Bank Indonesia for period January 2014 May 2021. applies a multiple linear regression model. findings this indicate that have positive sign significant index, meanwhile rate has negative CSPI. However, inflation no index.The implication results macroeconomic variables are very important highlighting transactions capital market, especially fluctuations these provide still need be observed by policy makers. On one hand, rates must remain under control. In addition, also increased increase foreign maintain