Nikkei 225 · February 22, 2024
Japan's 34-year climb back
+454.20%
trough back to the old high
3,656 trading days · 2009-03-10 → 2024-02-22
this undid the slide that began 1989-12-29
What happened that day?
- From the 10 March 2009 low to 22 February 2024 the Nikkei 225 rose 454.2% — 3,656 trading days
- It undid a twenty-year decline that began at the December 1989 bubble peak — 34 years to round-trip
- The turn came with the stimulus programme launched after the Abe government took office in late 2012: flood the system with money and push the yen down
- A weaker yen makes overseas sales worth more once converted back, so exporters' profits rise
- The Bank of Japan bought not just government bonds but equity ETFs, holding the market up directly
- Governance reform pushed companies to turn hoarded cash into dividends and buybacks, and foreign investors came in
- On 22 February 2024 the close of 29 December 1989 was finally passed
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.