Just caught that the Indonesia bourse is looking pretty rough heading into Wednesday. The Jakarta Composite Index dropped nearly 300 points or 3.7% over the last few days and now sitting just under 7,940. Definitely expecting another down day at the open given what's happening globally.

Yesterday was a mixed bag on the exchange - the financial sector held up okay with some of the banks doing alright, but the resource and cement stocks got hammered. Bank Mandiri was up 0.49%, Bank Central Asia gained 0.71%, but then you had Timah absolutely cratering down 7.41%, Aneka Tambang dropping 4.34%, and Energi Mega Persada tanking 3.18%. The index itself fell 77 points to close at 7,939.77.

The whole Asian market is following Wall Street's lead and it's not pretty. The Dow dropped 0.83%, NASDAQ down 1.02%, S&P 500 fell 0.94% - all because of Middle East tensions ramping up. Crude oil keeps spiking too, which is adding to the pressure on the broader bourse. Oil prices jumped another 4.7% yesterday to $74.58 a barrel after Iran closed the Strait of Hormuz. That's the kind of geopolitical risk that keeps traders nervous across all markets, including our local exchange here.