Nikkei 225 · October 31, 1974
Month-end, just past the bottom
+3.34%
single-day change vs previous close
Part of a longer stretch
Japan's recovery from the oil shock
early in it · 1974-10-09 → 1978-03-28, +59.77% over the whole period
What happened that day?
- October 31, 1974 — the Nikkei 225 rose 3.34% to 3,594.55. No single cause for the day could be pinned down
- This bear market had bottomed on October 9. The month after it was the recovery leg
- October swung hard: three sessions earlier it had fallen close to five percent, and this day took it back
- The embargo that began the previous autumn had quadrupled the oil price, and Japan buys all of its oil abroad
- The economy shrank that year for the first time in the postwar period. The market had already passed its own bottom
- From July 5 to October 9 the episode ran -27.48%
- It was the second largest one-day gain of the year
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 put together from the public record; where a specific source was consulted it is listed above.