Nikkei 225 · January 5, 1972
The Smithsonian rebound
+26.13%
trough back to the old high
88 trading days · 1971-08-24 → 1972-01-05
this undid the slide that began 1971-08-13
What happened that day?
- From the 24 August 1971 low to 5 January 1972 the Nikkei 225 rose 26.13% — 88 trading days
- It undid the Nixon shock crash
- In December the major countries met in Washington and agreed new exchange rates, including a new level for the yen
- The yen did get more expensive, but what mattered was that the paralysis of not knowing how much finally ended
- The Japanese government also supported exporters and moved to stimulate the economy
- The old high returned on 5 January 1972, and the market ran straight into the big 1972 advance
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.