Nikkei 225 · January 25, 2013

The day the Bank of Japan took the target

+2.88%

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 2.88% on the day
Days earlier the Bank of Japan had set an inflation target of two percent and agreed to open-ended asset purchases
The bank had long kept its distance from government demands on grounds of independence. This agreement settled the direction
The yen passed ninety to the dollar that week. Set against the seventy-eight of a few months earlier, that is a fast move
A move of that size rewrites exporters' profit forecasts wholesale, because the same goods bring in more yen
The advance of this period came not from earnings already improved but from the calculation that they would be

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.