Nikkei 225 · April 13, 1993

The day the thirteen-trillion package landed

+4.32%

single-day change vs previous close

Part of a longer stretch

The rally the stimulus bought

midway through · 1992-08-18 → 1993-09-13, +47.79% over the whole period

What happened that day?

On 13 April 1993 the Nikkei 225 rose 4.32%
The Japanese government settled a new comprehensive stimulus package that day, on the order of thirteen trillion yen
It centred on public works and support for housing investment — the second such package after August the previous year
This was Japan's basic response through the 1990s: cover the problem with spending rather than clean it up
The economy would revive briefly and sink again each time a package ran out
The trigger for this day is clear: the package was settled
In this stretch the index was 7.37% below its peak

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.