Paper Title
Factors Effecting the Stock Index Returns in Asia Emerging Market

Abstract
The real sector and financial sector are important to economy. Both sectors effect and be effected to economic variables especially financial sector. There is more fluctuation in financial sector than real sector. Therefore, the understanding of the economic variables that effect to the financial sector is useful for investors, speculators, or policy makers. Hence, this paper estimates the effect of economic variables on 8 Asia emerging stock market index return by using the daily data from December 1, 2015 to October 31, 2018. The ordered probit model reports that FTSE100 index has the positive effects on all Asia emerging stock market except Sri Lanka. While gold prices and US dollar index have negative effects in some stock markets. Moreover, the crude oil prices is effect to Malaysia stock market. Therefore, to invest or regulate the Asia emerging stock market, the investors and regulators have to concern about the change in gold prices, US dollar index, crude oil prices, and especially FTSE 100 index returns.