(RTTNews) - The Indonesia stock market has finished lower in five straight sessions, slumping more than 200 points or 3.4 percent along the way. The Jakarta Composite Index now rests just above the 6,130-point plateau and it's due for support on Wednesday.

The global forecast for the largely oversold Asian markets is cautiously optimistic on hopes for an end to hostilities in the Middle East. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to move higher on Wednesday.

The JCI finished modestly lower on Tuesday following losses from the financial shares and agriculture stocks.

For the day, the index dropped 55.19 points or 0.89 percent to finish at the daily low of 6,130.59 after peaking at 6,199.44.

The lead from Wall Street is uncertain as the major averages opened mixed on Tuesday and trended slightly higher but still ended on opposite sides of the unchanged line.

The Dow rallied 537.24 points or 1.03 percent to finish at 52,747.32, while the NASDAQ slumped 55.17 points or 0.22 percent to close at 24,876.91 and the S&P 500 rose 15.60 points or 0.21 percent to end at 7,428.78.

The advance by the Dow was fueled by strong quarterly results from the likes of Sherwin-Williams (SHW) and Coca-Cola (KO), which roundly beat expectations and raised guidance.

Meanwhile, weakness among technology stocks weighed on the NASDAQ, with semiconductor and computer hardware stocks turning in some of the worst performances.

Outside of the tech sector, oil service stocks also saw significant weakness amid the extended nosedive by the price of crude oil.

Crude plunged again on Tuesday amid rising optimism over a resolution to the U.S.-Iran conflict, easing supply disruption concerns. West Texas Intermediate crude for September delivery shed $3.61 or 4.37 percent at $79.00 per barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.