BioNTech said it expected to produce two billion doses of its vaccine this year
Wall Street stocks finished lower overnight, having retreated from record levels as investors proceeded to profit-taking ahead of earnings season and fiscal stimulus package announcement. There are some worries that stimulus may be delayed as House Democrats introduced a resolution to impeach U.S. President Donald Trump. The S&P was down 0.73%, the Dow Jones shed 0.55%, and the Nasdaq Composite lost 1.48%. Twitter stocks plunged nearly 6.5% after the company’s decision to permanently ban President Donald Trump from its platform after the president incited riots last week inside the Capitol building.
Asian equities were mixed-to-lower on Tuesday amid lingering fears over surging infections and the resulting lockdowns globally, including China. On the positive side, Germany’s BioNTech said it expected to produce two billion doses of its vaccine this year, up from the previous forecast of 1.3 billion. As such, the Shanghai Composite Index in China rose 2.8% and the Nikkei 225 in Tokyo added 0.1%. The Hang Seng in Hong Kong gained 1.32% while South Korea’s Kospi shed 0.71%.
In Europe, stocks opened higher on Tuesday as investors remain focused on the US political front after House Democrats introduced an article of impeachment against U.S. President Donald Trump for inciting the mob attack at the Capitol last week. The pan-European Stoxx 600 climbed 0.3% in early trade, as market players weighing up the prospect for additional U.S. fiscal stimulus after Biden pledged a hefty economic stimulus plan due to be delivered later this week.
Meanwhile, the dollar came under some pressure following a three-day winning streak. Still, the corrective attempts are looking limited despite risk sentiment started to improve following a short-lived downside correction in global stocks. As such, EURUSD came-off nearly three-week lows slightly, having settled around 1.2150 after a rejection from intraday highs around 1.2175 registered earlier in the day. Despite a bounce, the euro is yet to regain the 20-DMA that acts as the key immediate resistance in the 1.2220 area today.
