The cultural heritage of the Malay community encompasses various significant aspects that reflect its richness, values, and identity, from social systems to festivals celebrating tradition. The Malay community is known for its egalitarian approach, evident in their language, social interactions, and open markets where nobles and commoners could mingle freely. Traditional arts and crafts, performing arts, and cuisine showcase the unique and rich cultural heritage passed down through generations. Pulau Penyengat, as a cultural and historical symbol, holds deep historical significance with landmarks like the Sultan Riau Grand Mosque and literary works by Raja Ali Haji, demonstrating its role in the spread of religion and culture. Events such as the Malay Cultural Festival and the Lampu Colok Festival play crucial roles in strengthening social bonds and introducing Malay culture to a wider audience. Preserving these elements is essential not only to maintain identity but also to inspire future generations to continue the traditions and noble values of the nation.
 
 

<p><span lang="EN-US">Tujuan dari penelitian ini adalah untuk menganalisis </span><span lang="IN">bagaimana hubungan</span><span lang="EN-US">  jangka pendek dan jangka panjang Makroekonomi, Indeks Saham Global, Harga Emas Dunia, dan Harga Minyak Dunia terhadap Indeks Harga Saham Gabungan (IHSG) selama periode </span><span lang="IN">Januari</span><span lang="EN-US">  2010</span><span lang="IN">  hingga Desember </span><span lang="EN-US">2019 menggunakan data bulanan.</span><span lang="IN">  Dalam penelitian terdahulu, masih adanya inkonsistensi dalam hasil penelitian membuat penelitian ini harus dilakukan.</span><span lang="EN-US">  Analisis yang digunakan dalam penelitian ini adalah model <em>Autoregressive Distribute-Lag</em> (ARDL). </span><span lang="IN">Model ARDL berbeda dengan <em>Eror Correction Model</em> (ECM) dimana dalam model ARDL kita tidak mempermasalahkan perbedaan tingkat stasioneritas. Kesimpulan dari hasil penelitian   </span><span lang="EN-US">menunjukkan bahwa dalam jangka pendek </span><span lang="IN">Inflasi, Nilai tukar Rupiah terhadap <em>Dollar</em>, dan Harga Minyak Dunia berpengaruh negatif terhadap IHSG. Sedangkan Indeks <em>Nikkei</em> 225, Indeks SSE, dan Harga Emas Dunia berpengaruh positif terhadap IHSG. Dalam jangka panjang Inflasi, Nilai Tukar Rupiah terhadap <em>Dollar</em>, Indeks SSE, dan Harga Minyak Dunia berpengaruh negatif terhadap IHSG. Sedangkan Indeks <em>Nikkei</em> 225 berpengaruh positif dan Harga emas dunia tidak berpengaruh terhadap IHSG.</span></p><p><span lang="IN"><br /></span></p><p><span lang="IN"><em><span lang="EN-US">The purpose of this study is to analyze the short-term and long-term relationship of Macroeconomics, Global Stock Index, World Gold Prices, and World Oil Prices to the Jakarta Composite Index (JCI) during the period January 2010 to December 2019 using monthly data. In previous research, there are still inconsistencies in the research results, making this research must be done. The analysis used in this study is the Autoregressive Distribute-Lag (ARDL) model. The ARDL model is different from the Error Correction Model (ECM) where in the ARDL model we don't care about the different levels of stationarity. The conclusion of the research shows that in the short-term inflation, the exchange rate of the rupiah against the dollar, and world oil prices have a negative effect on the JCI. Meanwhile, the Nikkei 225 Index, the SSE Index, and the World Gold Price have a positive effect on the JCI. In the longterm Inflation, the Exchange Rate of the Rupiah against the Dollar, the SSE Index, and World Oil Prices have a negative effect on the JCI. While the Nikkei 225 index has a positive effect and the world gold price does not have effect on the JCI.</span></em></span></p>