Nikkei 225 · April 7, 1988
Tokyo's fast recovery from Black Monday
+27.25%
trough back to the old high
98 trading days · 1987-11-11 → 1988-04-07
this undid the slide that began 1987-10-14
What happened that day?
- From the 11 November 1987 low to 7 April 1988 the Nikkei 225 rose 27.25% — 98 trading days
- It undid the damage Black Monday did to Tokyo
- The recovery beat Wall Street's by a wide margin — the US needed until summer 1989, Tokyo took five months
- Japan's economy was strong and low rates had left so much money around that it kept flowing into shares
- The government and the large financial institutions also actively held the market up
- That speed was itself a warning sign. Momentum that even a crash could not break kept inflating the bubble into late 1989
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.