(RTTNews) - The Indonesia stock market has finished lower in three straight sessions, tumbling more than 350 points or 5.8 percent in that span. The Jakarta Composite Index now rests just shy of the 5,650-point plateau, although it's overdue for support on Wednesday.
The global forecast for the Asian markets is upbeat thanks to sliding oil prices and support from the technology shares. The European and U.S. markets were up and the Asian markets figure to follow that lead.
The JCI finished sharply lower on Tuesday with damage across the board, especially among the financial shares and resource stocks.
For the day, the index cratered 177.60 points or 3.05 percent to finish at 5,643.19 after trading between 5,638.57 and 5,811.67.
The lead from Wall Street is firm as the major averages opened mixed but quickly picked up steam to finish solidly in positive territory.
The Dow gained 136.46 points or 0.26 percent to finish at a record 52,319.20, while the NASDAQ jumped 393.57 points or 1.52 percent to end at 26,213.72 and the S&P 500 improved 58.93 points or 0.79 percent to close at 7,499.36.
The strength on Wall Street came as technology stocks continued to regain ground following the sharp pullback seen last week. Semiconductor stocks helped to lead the way higher once again, with the Philadelphia Semiconductor Index spiking 3.9 percent.
Crude oil prices slumped amid conflicting messages about a new round of talks between the U.S. and Iran. While President Donald Trump claimed a meeting is set to be held in Qatar, a spokesperson for Iran's Foreign Ministry reportedly denied that talks were scheduled.
With increasing tanker traffic across the Strait of Hormuz eased supply concerns, West Texas Intermediate was down $1.29 or 1.82 percent at $69.46 per barrel.
Closer to home, Indonesia will release May trade data and June figures for consumer prices later today. Imports are expected to rise 18.0 percent on year, down from 22.49 percent in April. Exports are called higher by an annual 4.0 percent, easing from 21.98 percent in the previous month. The trade surplus is pegged at $1.10 billion, up from $0.09 billion.
Overall inflation is expected to add 0.29 percent on month and 3.20 percent on year - up from 0.28 percent on month and 3.08 percent on year in May.
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