(fxcue news) - The China stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected more than 15 points or 0.5 percent. The Shanghai Composite Index now rests just above the 3,240-point plateau although it's likely to bounce higher again on Wednesday. The global forecast for the Asian markets is positive on renewed optimism about the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow that lead. The SCI finished barely lower on Tuesday following losses from the resource stocks, gains from the properties and a mixed picture from the financial sector. For the day, the index dipped 1.76 points or 0.05 percent to finish at 3,242.62 after trading between 3,229.07 and 3,258.61. The Shenzhen Composite Index rose 4.91 points or 0.25 percent to end at 1,939.70. Among the actives, Industrial and Commercial Bank of China slumped 0.30 percent, while China Construction Bank fell 0.24 percent, China Merchants Bank perked 0.05 percent, China Life Insurance collected 0.38 percent, Jiangxi Copper eased 0.05 percent, Aluminum Corp of China (Chalco) skidded 1.16 percent, Yankuang Energy dropped 0.90 percent, PetroChina declined 1.40 percent, China Petroleum and Chemical (Sinopec) stumbled 1.62 percent, China Shenhua Energy retreated 1.37 percent, Gemdale soared 4.98 percent, Poly Developments climbed 1.16 percent, China Vanke surged 7.45 percent and Huaneng Power, Agricultural Bank of China and Bank of China were unchanged. The lead from Wall Street is upbeat as the major averages opened higher on Tuesday and mostly stayed that way throughout the trading day. The Dow soared 537.98 points or 1.24 percent to finish at 44,025.81, while the NASDAQ rallied 126.58 points or 0.64 percent to close at 19,756.78 and the S&P 500 gained 52.58 points or 0.88 percent to end at 6,049.24. U.S. stocks were firmly in positive territory, with investors assessing the possible impact of the Trump administration's economic policies and likely tariff proposals. Optimism about some interest rate cuts by the Federal Reserve this year, and a drop in treasury yields also contributed to market's upside. The recent retreat by treasury yields came as the U.S. inflation data released over the past few days led to renewed optimism about the outlook for interest rates. Oil prices tumbled on Tuesday, weighed down by Trump's plans to boost oil and gas production in the U.S. West Texas Intermediate Crude oil futures for February closed down $1.99 or 2.56 percent at $75.89 a barrel.