Dampak covid-19 pada pasar saham di berbagai negara

Nurul Fauziyyah, Ilham Ramadhan Ersyafdi

Abstract


COVID-19 is an unbelievable infectious disease that first emerged in China and then spread widely to other countries around the world. This pandemic which initially caused extraordinary turmoil in the health sector has gradually devastated other sectors such as education, eeconomic, financial, especially the world stock market. The unbalance condition of the world stock market began since the announcement of COVID-19 by WHO and until now the COVID-19 pandemic has not been completely resolved so that this uncertainty makes the world stock market experiencing negative turmoil. This paper aims to provide an overview of global stock market conditions at the time of the COVID-19 pandemic. This study was conducted by previous studies and associated with current information, data from credible sources, and several book references or also known as literature study. Stock market data are taken from the official stock exchange websites of each country using closing share prices at the end of each month from January to March 2020. The data analysis method used in this study is descriptive analysis method. Results showed that various countries in the world experienced a negative turmoil on their stock markets due to the presence of COVID-19 and the worst condition occurred on March 2020. In addition, among other pandemics that have occurred before, COVID-19 is one of the most shocking pandemics in the world, especially on the stock market. However, stock markets in ASIA were more severely affected than in Europe.


Keywords


Pasar saham; covid-19; global

References


Alam, et.al. (2020). Stock market response during COVID-19 lockdown period in India: an event study. Journal of Asian Finance, Economics and Business, Vol. 7 No. 7, 131-137.

Al-Awadhi, et.al. (2020). Death and contagious infectious disesases: impact of the COVID-19 virus on stock market returns. Journal of Behavioral and Experimental Finance, 100326.

Alfaro, L., Chari, A., Greenland, A.N. and Schott, P.K. (2020). Aggregate and firm-level stock returns during pandemics in real time. CEPR COVID-19 Economics Review, NBER Working paper No. W26950.

Arifin, Ali. (2007). Membaca Saham: Panduan Dasar Seni Berinvestasi dan Teori Permainan Saham, Kapan Sebaiknya Membeli, Kapan Sebaiknya Menjual. Yogyakarta: Andi Offset.

Ashraf, B. N. (2020). Stock markets’ reaction to COVID-19: cases or fatalities, res. Int. Bus. Finance 54, 101249, http://doi.org/10.1016/j.ribaf2020.

Baker, et.al. (2020).The unprecedented stock market impact of COVID-19, Working Paper, https: //doi.org/10.3386/w26945.

Camba, Aileen L., and Abraham C. Camba Jr. (2020). The effect of COVID-19 pandemic ob the Philippine Stock Exchange, Peso-dollar rate and retail price of diesel. Journal of Asian Finance, Economics and Business, Vol 7 No. 10, pp. 543-553.

Hasibuan, Zainal A. (2007). Metodologi Penelitian Pada Bidang Ilmu Komputer Dan Teknologi Informasi:Konsep, Teknik, dan Aplikasi. Jakarta: Fakultas Ilmu Komputer Universitas Indonesia.

Heyden, K.J. and Heyden, T. (2020). Market reactions to the arrival and containment of COVID-19: an event study.SSRN Electronic Journal, https://ssrn.com/abstract=3587497.

Liu, H., Manzoor, A., Wang, C., Zhang, L., Manzoor, Z. (2020). The COVID-19 outbreak and affected countries stock markets response. Int. J. Environ. Res. Public Health 17 (8), 2800, https://doi.org/10.3390/ijerph17082800.

Nazir. (1988). Metodologi Penelitian. Jakarta: Ghalia Indonesia.

Pinglin He, Yulong Sun, Ying Zhang & Tao Li. (2020). COVID-19–19’s Impact on Stock Prices Across Different Sectors—An Event Study Based on the Chinese Stock Market. Emerging Markets Finance and Trade, 56:10, 2198-2212, DOI: 10.1080/1540496X.2020.1785865

Ramelli, S., and Wagner, A. F. (2020). Feverish stock price reactions to the novel COVID-19 virus. SSRN Electronic Journal, https://doi.org/10.2139/ssrn.3550274.

Rifa’i, Ahmad, et.al. (2020). Pengaruh peristiwa pandemi COVID-19 terhadap indeks harga saham gabungan. E-JRA, Vol. 09 No. 06.

Ru, Hong, Endong Yang, and Kunru Zou. (2020). What do we learn from SARS-CoV-1 to SARS-CoV-2: evidence from global stock markets?. SSRN Electronic Journal, https://dx.doi.org/10.2139/ssrn.3569330.

Schell, et.al. (2020). This time is indeed different: A study on global market reactions to public health crisis. Journal of Behavioral and Experimental Finance, vol.27.

Sharif, A., Aloui, C., Yarovaya, L. (2020). COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: fresh evidence from the wavelet-based approach. International Review of Financial Analysis 70, 101496.

Topcu, Mert and Omer Serkan Gulal. (2020). The impact of COVID-19 on emerging stock markets. Finance Research Letter 36, Juli 2020.

Wren-Lewis, S. (2020). The economic effects of a pandemic. In: Economics in the Time of COVID-19. London, UK: CEPR Press. Retrieved June 11, 2020, from https://voxeu.org/content/ economics-time-covid-19.

Yilmazkuday, Hakan. (2020). COVID-19 Effects on the S&P 500 Index. SSRN Electronic Journal. 10.2139/ssrn.3555433.

Zhang, et.al. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters, 101528.

Zulfikar. (2016). Pengantar Pasar Modal Dengan Pendekatan Statistika Edisi Pertama, Cetakan Pertama. Yogyakarta : Gramedia.

Anonim. (2020). “Daftar 8 Bursa Saham Dunia yang Tertekan Virus COVID-19.†Diakses pada pukul 15.20 tanggal 30 November 2020 dari https://www.cnnindonesia.com/ekonomi/20200313164652-92-483225/daftar-8-bursa-saham-dunia-yang-tertekan-virus-COVID-19.

Anonim. (2020). “Data Sebaran COVID-19â€. Diakses pada pukul 12.49 tanggal 09 Desember 2020 dari Satgas Penanganan COVID-19, https://COVID-19.go.id/.

Anonim. (2020). “Policy Responses to COVID-19.†Diakses pada 17.05 tanggal 05 Desember 2020 dari International Monetary Fund https://www.imf.org/en/Topics/imf-and-COVID-1919/Policy-Responses-to-COVID-19.

Baskara, Bima. (2020). “Rangkaian Peristiwa Pertama COVID-19.†Diakses pada pukul 13.00 tanggal 23 November 2020 dari https://bebas.kompas.id/baca/riset/2020/04/18/rangkaian-peristiwa-pertama-COVID 19/#:~:text=Menurut%20data%20Pemerintah%20China%20yang,kasus%20baru%20dilaporkan%20setiap%20hari.

Fajar, Taufik. (2020). “Bursa Saham Dunia Mengalami Situasi yang Sama.†Diakses pada pukul 16.34 tanggal 02 Desember 2020 dari IDXchannel.com https://idxchannel.okezone.com/read/2020/05/23/278/2218376/bursa-saham-dunia-mengalami-situasi-yang-sama?page=3.




DOI: https://doi.org/10.30872/jfor.v23i1.8573

Refbacks

  • There are currently no refbacks.




Copyright (c) 2021 Nurul Fauziyyah, Ilham Ramadhan Ersyafdi


Crossref logo 

Editorial Address

FORUM EKONOMI: Jurnal Ekonomi, Manajemen dan Akuntansi
Faculty of Economics and Business, Mulawarman University
Jl. Tanah Grogot No.1 Samarinda Kalimantan Timur 75119
Email: jakt.feb.unmul@gmail.com

StatCounter: FORUM EKONOMI: Jurnal Ekonomi, Manajemen dan Akuntansi