The researchers looked at how stock prices in other Asian countries affect Indonesia's stock market. They used indexes from Singapore, Malaysia, China, Japan, Hong Kong, and South Korea as independent variables, and Indonesia's stock index as the dependent variable. The study found that Malaysia's index had a significant positive impact on Indonesia's stock index. However, indexes from Singapore, China, Hong Kong, and South Korea had positive but not significant effects. Japan's index had a negative and insignificant effect. Overall, the other variables not included in the study explained 71.4% of the changes in Indonesia's stock index.