Stock market returns can be influenced by internal factors from within the countries as well as external factors from neighboring countries. As global economy becomes more integrated, the relationship between stock market might become increasingly blur. In order to maximize investment returns, investor needs to understand the relationship between the stock market returns with the macroeconomic variables in the countries as well as the relationship with other stock market. This study seeks evidence to understand further the relationship of macroeconomic variables such as GDP growth rate, inflation rate, SOE time deposit rate, USD/IDR exchange rates to Indonesian stock market (IHSG). In addition, the study also seeks evidence to understand the relationship of the stock market performance from china (SSE), Japan (Nikkei), and Singapore (SGX) as Indonesia main trade partner in Indonesia. This research includes quantitative research and uses secondary quarterly data from the year 2010 to 2021. This study was analyzed through statistical methods which includes normality test, multicollinearity test, Heteroscedasticity test, T-Test as well as F-Test. The results of the study suggests that from the macroeconomics variables, GDP growth and USD/IDR exchange rates are statistically significant while inflation rate and SOE banks deposit rate are not statistically significant to IHSG. On the other hand, only the SGX index prove to have statistical significance to IHSG while SSE and Nikkei are not statistically significant. In addition, GDP growth and SGX index has a positive relationship with IHSG while USD/IDR exchange rate displays a negative one.