The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets

Nomran, Naji Mansour; Haron, Razali

doi:10.1186/s43093-021-00078-5

Future Business Journal

Table 1 List of Islamic and conventional stock market indices from each country

From: The impact of COVID-19 pandemic on Islamic versus conventional stock markets: international evidence from financial markets

No	Country	Index		The day when 1st COVID-19 case was confirmed*	Observations
No	Country	Index		The day when 1st COVID-19 case was confirmed*	Panel (A)	Panel (A₁)	Panel (A₂)
1	Bangladesh	Islamic	DSEX Shariah	Mar 09, 2020	143	130	13
1	Bangladesh	Conventional	DSEX	Mar 09, 2020	143	130	13
2	Canada	Islamic	S&P/TSX 60 Shariah	Jan 26, 2020	167	100	67
2	Canada	Conventional	S&P/TSX 60	Jan 26, 2020	167	100	67
3	China	Islamic	FTSE Shariah China	Jan 22, 2020**	159	101	58
3	China	Conventional	FTSE China	Jan 22, 2020**	159	101	58
4	India	Islamic	FTSE Shariah India	Jan 30, 2020	173	107	66
4	India	Conventional	FTSE India	Jan 30, 2020	173	107	66
5	Indonesia	Islamic	Jakarta Islamic Index	Mar 02, 2020	168	126	42
5	Indonesia	Conventional	Jakarta SE Composite Index	Mar 02, 2020	168	126	42
6	Japan	Islamic	FTSE Shariah Japan 100	Jan 22, 2020	167	99	68
6	Japan	Conventional	FTSE Japan	Jan 22, 2020	167	99	68
7	Kuwait	Islamic	FTSE Lujain Kuwait Shariah	Feb 24, 2020	136	98	38
7	Kuwait	Conventional	FTSE Lujain Kuwait	Feb 24, 2020	136	98	38
8	Malaysia	Islamic	FTSE Bursa Malaysia Hijrah-Shariah	Jan 25, 2020	167	99	68
8	Malaysia	Conventional	FTSE KLCI	Jan 25, 2020	167	99	68
9	Nigeria	Islamic	NSE Lotus Islamic	Feb 28, 2020	167	124	43
9	Nigeria	Conventional	NSE 30	Feb 28, 2020	167	124	43
10	Pakistan	Islamic	KMI 30	Feb 27, 2020	169	124	45
10	Pakistan	Conventional	KSE 100	Feb 27, 2020	169	124	45
11	Qatar	Islamic	QE Al Rayan Islamic	Mar 01, 2020	170	126	44
11	Qatar	Conventional	QE General		170	126	44
12	Taiwan	Islamic	FTSE TWSE Taiwan Shariah	Jan 25, 2020	159	96	63
12	Taiwan	Conventional	FTSE Taiwan	Jan 25, 2020	159	96	63
13	Thailand	Islamic	FTSE SET Shariah	Jan 22, 2020	166	96	70
13	Thailand	Conventional	SET Index	Jan 22, 2020	166	96	70
14	Turkey	Islamic	KATILIM 50	Mar 12, 2020	171	136	35
14	Turkey	Conventional	BIST 100	Mar 12, 2020	171	136	35
15	UAE	Islamic	FTSE NASDAQ Dubai 10 Shariah	Jan 27, 2020	134	79	55
15	UAE	Conventional	Dubai Financial Market General Index		134	79	55
Total		Islamic			2416	1641	775
Total		Conventional			2416	1641	775

Panel (A) represents the overall period (September 01, 2019–April 30, 2020); Panel (A₁) represents the period before COVID-19 pandemic (September 01, 2019—the day before 1st COVID-19 case was confirmed in a country); Panel (A₂) represents the period during COVID-19 pandemic (the day when 1st COVID-19 case was confirmed in a country—April 30, 2020); *This data is collected from the website of EU Open Data Portal; **The day the issue caught public eye, although China had cases well before Jan 22, 2020 (see, Ashraf [4, 5]; Similarly, Ashraf [4, 5] considered the same date Jan 22, 2020 as the 1st COVID-19 case was confirmed in Japan and Thailand; UAE denotes United Arab Emirates

Back to article page