Nikkei 225 · March 28, 1978
Japan's recovery from the oil shock
+59.77%
trough back to the old high
846 trading days · 1974-10-09 → 1978-03-28
this undid the slide that began 1973-01-24
What happened that day?
- From the 9 October 1974 low to 28 March 1978 the Nikkei 225 rose 59.77% — 846 trading days
- It undid the decline that began with the oil shock
- Japanese companies rebuilt factories and products to use less energy — fuel-efficient small cars being the obvious case
- In a world of expensive oil, Japanese cars and electronics actually became more competitive
- Inflation calmed and the government turned toward stimulus, which helped the climb
- The old high returned on 28 March 1978, and this run laid the groundwork for the 1980s bubble
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.