Nikkei 225 · October 15, 2002

Tokyo catches up after the holiday

+3.60%

single-day change vs previous close

Part of a longer stretch

The twenty-year low

midway through · 2002-05-23 → 2003-04-28, -36.49% over the whole period

What happened that day?

15 October 2002 — the Nikkei 225 rose 3.60% to close at 8,836.73
Tokyo had been shut the previous day for a public holiday. American stocks had risen sharply for two sessions in the meantime, and Tokyo took it all at once
The American rally came from third-quarter results at the large banks reading better than feared — confirmation that a chain of corporate defaults had not arrived
The American low was six days behind, on 9 October, and the recovery from it was quick
Japan was in a different place. Tokyo's low was still a month away, and the policy on clearing bank bad loans was changing by the day
So the day's gain came from outside, not from any Japanese news
From the early-July high to the 14 November low the index fell 24.24%

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.