Nikkei 225 · January 4, 2013

The new government's first session

+2.82%

single-day change vs previous close

Part of a longer stretch

Abenomics, the first leg

midway through · 2012-06-04 → 2013-05-22, +88.38% over the whole period

What happened that day?

The Nikkei 225 rose 2.82% on the day, the first session of 2013
The election the previous month had changed the government. The new prime minister set out three arrows: bold monetary easing, fiscal spending, and a growth strategy
The core was forcing an inflation target onto the Bank of Japan — declaring, in a country where prices had not risen for twenty years, that they now would
The words alone began to weaken the yen. A currency expected to be printed more freely gets cheaper
A cheaper yen improves the earnings outlook for exporters, and the Nikkei's heavy weighting in exporters makes it react directly to the exchange rate
Across this stretch the Nikkei nearly doubled in twelve months

Sources

Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.