Abstract:

International markets act interconnectedly with the influence of globalization. As a result of this connection, the information flow that occurs in one market can have an impact on a different market. In order to investigate whether important stock market indices in different geographies are related to each other, in this study, Turkiye (BIST 100) stock market and Germany (DAX), England (FTSE 100), Japan (NIKKEI 225), China (SHANGHAI), USA (S&P500). -DOW30-NASDAQ l00) long-term relationship between country stock market indices was investigated. 623 observation values at a weekly frequency covering the period 01.04.2009-06.12.2020 were used in the application. The long-term relationship was analyzed with the Johensen-Juselius cointegration test. As a result of the application, there is a long-term significant relationship between Turkey (BIST100) and Germany (DAX), England (FTSE 100), Japan (NIKKEI 225), USA (S&P500- DOW30- NASDAQl00), while there is a long-term significant relationship between Turkey (BIST100) and China (SHANGHAI). No significant relationship was found for the specified period.

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