Nikkei 225 · November 29, 1977
An autumn bounce in the year the yen kept rising
+4.90%
single-day change vs previous close
Part of a longer stretch
Japan's recovery from the oil shock
near the end of it · 1974-10-09 → 1978-03-28, +59.77% over the whole period
What happened that day?
- The Nikkei rose 4.9% to close at 4,822.50. No single trigger for the day could be pinned down
- The previous session, 25 November, was the low of this correction. This is the very next trading day
- What weighed on Japan through 1977 was a rising yen. In a country that lives on exports, the exchange rate is the earnings line
- A large rise the session after a low is a common shape — once the forced sellers are done, only buyers remain
- The correction was 13.06% from the September high to the November low, not a deep one
- The recovery that began here carried into the following year's rise
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.