• RIAZ AHMAD Author


Stock Marke, Foreign Exchange, Gold Price, Inflation, Crude Oil


The current study objective is to investigate the effect of four macroeconomic indicators namely gold price, crude oil price, rate of foreign exchange and inflation on the Asian stock markets. For this objective, the yearly panel data of the ten Asian economies from year 2007 to 2020 was collected. The random effect model analysis led to the conclusion that the price of gold has a positive and significant effect on the stock market whereas the price of crude oil and inflation have a negative and significant effect on the stock markets of Asian countries. Furthermore, the relationship of exchange rate along with Asian stock markets was found positive but insignificant. This study is considered quite beneficial for prediction of stock market performance. Hence, both policy makers and investors can benefit from the findings. For researchers and students, the extended framework of this research contributes immensely towards the existing literature on the subject.


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How to Cite

KHAN, M. A. ., AHMAD, . R. ., AKRAM, D. M. ., & ISHAQ, H. M. . (2021). THE EFFECT OF MACROECONOMIC INDICATORS ON STOCK MARKET: A STUDY ON ASIAN ECONOMIES. Bulletin of Business and Economics (BBE), 10(1), 114-127.

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