| Summary: | In 2008, the whole world was hit by the impact of rising world oil prices
and stock markets around the world was also affected, and Indonesia is no
exception. The difference occurs when world oil prices increase / decrease, CSPI
also corrected to follow the movement of world oil prices. In an article, it was
explained that the JCI moves along with world oil prices due to the influence of
stock price index of mining and agriculture which controls 25% of JCI movement.
The main objective of this study is to see the effect of the increase / decrease in
world oil prices so as to make the stock price index of mining and agriculture
affected following the world oil prices. The researcher used secondary data ie the
closing price on the stock price index of mining and agriculture for the price of oil
using the closing price of the British Petroleum (BP). The researcher used a time
series with a period of 3 years i.e. 2007-2010, the period was taken because of
rising oil prices occurred in the range of that year.
To analyze the effect of oil price on the stock price index of mining and
agriculture, the researcher used the aid of SPSS ver. 17. Data processing results
obtained significant results between world oil prices on the stock price index of
mining and agriculture for 0.000 <0.05, which means there is influence between
the increase / decrease in oil prices on both the stock price index.
Based on the results of this analysis, the author concluded that there is influence
of world oil prices on stock indices of mining and agriculture. The increase or
decrease in oil prices will affect both the industry and will affect the JCI
movement in Indonesia, because Indonesia is a country exporting coal and palm
oil which resulted when oil prices rise then the price of coal and palm oil were
exported to rise and make the many investors invest their shares in the two
industries to benefit from the two industries.
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