Global stocks advanced on Tuesday on hopes that the coronavirus crisis may be easing in some of the places that have been hit hardest.

  • Japan’s Nikkei advanced 2%
  • Hong Kong’s Hang Seng (HSIadded 2.1%
  • China’s Shanghai Composite (SHCOMPincreased 2% as investors returned from a holiday.

In Europe, benchmark indexes in Paris, Frankfurt and London opened with gains of more than 3%.

The British pound weakened to $1.22 on Monday after UK Prime Minister Boris Johnson, who has been battling a coronavirus infection, was moved to the intensive care unit of a hospital in London, forcing his deputies to assume more responsibility for the country’s response to the pandemic. The currency recovered a little on Tuesday, strengthening 0.9% against the dollar.

The CNN Business Fear & Greed Index, which looks at the VIX (VIX) volatility gauge and six other measures of market sentiment, is now registering Fear levels as opposed to Extreme Fear. The index is at 32. Anything at 25 or under is Extreme Fear.