Nikkei 225 · October 31, 2014

A surprise easing, and the pension fund

+4.83%

single-day change vs previous close

Part of a longer stretch

Two years of more easing

near the end of it · 2013-06-13 → 2015-06-24, +67.68% over the whole period

What happened that day?

On 31 October 2014 the Nikkei 225 rose 4.83%
The Bank of Japan expanded its easing sharply without warning. The vote split five to four among nine members
The same day it emerged that the world's largest pension fund would raise its equity allocation substantially
A structure with a central bank buying and a pension fund buying was created in a single day — two hands under the price
The background was the April consumption tax rise, which had broken the recovery and put the inflation target out of reach
The yen fell sharply and exporters' shares rose hard
The index was at its high at this point, with no prior drawdown

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.