Indonesia Bourse Overdue For Support On Tuesday

(RTTNews) - The Indonesia stock market has moved lower in six straight sessions, slumping more than 520 points or 5.1 percent in that span. The Jakarta Composite Index now rests just above the 7,100-point plateau although it's likely to open higher on Tuesday. The global forecast for the Asian markets is unclear amid uncertainties surrounding the conflict in the Middle East. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The JCI finished modestly lower on Monday following mixed performances from the financial shares, cement companies and resource stocks. For the day, the index fell 22.97 points or 0.32 percent to finish at the daily low of 7,106.52 after peaking at 7,230.03.

The lead from Wall Street is murky as the major averages opened mixed on Monday and hugged the line throughout the session before ending on oppositive sides.

The Dow sank 62.92 points or 0.13 percent to finish at 49,167.79, while the NASDAQ climbed 50.50 points or 0.20 percent to close at 24,887.10 and the S&P 500 rose 8.83 points or 0.12 percent to end at 7,173.91.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves amid a lack of clarity about the situation in the Middle East after U.S.-Iran peace talks stalled over the weekend.

Traders are also likely to keep an eye on the Federal Reserve's monetary policy decision scheduled for Wednesday. While the Fed is widely expected to leave interest rates unchanged, the central bank's accompanying statement may provide clues about the outlook for rates.

Crude oil prices soared on Monday after the proposed U.S.-Iran negotiations were called off by the U.S. as supply disruption concerns continue. West Texas Intermediate crude for June delivery was up $2.32 or 2.46 percent at $96.72 per barrel.