Nikkei 225 · May 28, 1970

The day after the low, with New York turning

+4.12%

single-day change vs previous close

Part of a longer stretch

Recovery after the squeeze eased

early in it · 1970-05-27 → 1971-06-15, +31.74% over the whole period

What happened that day?

28 May 1970 — the Nikkei 225 rose 4.12%
The previous session, 27 May, was the episode low. This was the day right after the bottom
New York had turned a few sessions earlier. Tokyo was picking up that change of direction
That spring's decline was a credit squeeze. A large American railroad ran out of money and an international investment company collapsed
Japan was in a tightening cycle at the time. As the pressure began to ease, prices came back quickly
Still, no single cause for that one day could be pinned down. What is established is that the direction turned here
From the early-April high to the late-May low the index fell 23.86%

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.