THE IMPACT OF THE COVID-19 PANDEMIC ON THE STOCK PRICES OF MANUFACTURING COMPANIES ON THE INDONESIA STOCK EXCHANGE

Iqbal Rafikhul Fauzan, Miko Katon Kurniawan, Meythi Meythi
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Abstract

The coronavirus, or COVID-19, is caused by the SARS-CoV-2 virus, first discovered in China in late 2019 and as of June 2021. Since then, the virus has spread worldwide. Indonesia has reported more than 31,000 cases of COVID-19 (Gugus Tugas Percepatan Penanganan COVID-19, 2020), making it the second-highest country in ASEAN, according to CNN Indonesia (2022). The global tally has surpassed 6.7 million cases, with over 395,000 fatalities. This pandemic has not only affected the health sector but has also impacted various other economic sectors, including the stock market. Developing countries like Indonesia have felt the repercussions, evident in the movements of the Composite Stock Price Index (IHSG). Studying the IHSG's trends before and during the COVID-19 pandemic is crucial as a guide for governments and companies in managing foreign fund flows, maintaining index stability, and preserving economic value (Nurmasari, 2020). In this context, the Indonesia Stock Exchange (PT. Bursa Efek Indonesia) and the Financial Services Authority (Otoritas Jasa Keuangan or OJK) have introduced new policies to prevent a decline in the capital market caused by Covid-19. The decision by the Indonesia Stock Exchange states that these measures are taken to reduce the spread of the virus.
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科维德-19 大流行病对印度尼西亚证券交易所制造业公司股票价格的影响
冠状病毒,即 COVID-19,由 SARS-CoV-2 病毒引起,于 2019 年底在中国首次发现,截至 2021 年 6 月。此后,该病毒在全球蔓延。据印度尼西亚 CNN(2022 年)报道,印度尼西亚报告的 COVID-19 病例已超过 31,000 例(Gugus Tugas Percepatan Penanganan COVID-19, 2020 年),在东盟国家中位居第二。全球病例总数已超过 670 万,死亡人数超过 39.5 万。这次疫情不仅影响了卫生部门,还冲击了包括股市在内的其他经济部门。印度尼西亚等发展中国家已经感受到了这一影响,这一点从综合股票价格指数(IHSG)的走势中可以明显看出。研究 IHSG 在 COVID-19 大流行之前和期间的走势对政府和公司管理外国资金流动、保持指数稳定和维护经济价值至关重要(Nurmasari,2020 年)。在此背景下,印度尼西亚证券交易所(PT. Bursa Efek Indonesia)和金融服务管理局(Otoritas Jasa Keuangan 或 OJK)出台了新政策,以防止 Covid-19 导致资本市场下滑。印尼证券交易所的决定指出,采取这些措施是为了减少病毒的传播。
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FUNDAMENTAL ANALYSIS AND TECHNICAL ANALYSIS IN INVESTMENT DECISION MAKING THE IMPACT OF THE COVID-19 PANDEMIC ON THE STOCK PRICES OF MANUFACTURING COMPANIES ON THE INDONESIA STOCK EXCHANGE FACTORS OF CHANGES IN DEMAND FOR THE USE OF FREIGHT WAGONS JSC “UKRZALIZNYTSYA” MEDIATION MODEL OF SELF-EFFICACY ON STUDENT ENTREPRENEURIAL INTEREST TOURISM CHALLENGES AND PERSPECTIVES IN THE MOUNTAINOUS AJARA: ON THE BESHUMI RESORT EXAMPLE
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