Nikkei 225 · September 14, 2021
From the COVID low to a 30-year high
+85.29%
trough back to the old high
363 trading days · 2020-03-19 → 2021-09-14
this undid the slide that began 1990-08-01
What happened that day?
- From the low on 19 March 2020 to the high on 14 September 2021, the Nikkei rose 85.29% over 363 trading days
- When COVID stopped the economy, governments and central banks supplied money and spending on an unprecedented scale
- The economy got worse while share prices rose, because what set prices was not earnings but the money released
- The Bank of Japan sharply increased its purchases of listed funds, buying shares directly
- This high was the highest since August 1990 — thirty-one years after the bubble broke
- Even then it was only about eighty percent of the 1989 peak
- The run ended as inflation arrived and central banks withdrew the easing
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.