Nikkei 225 · July 9, 2007
Four years off the bottom
+140.04%
trough back to the old high
1,033 trading days · 2003-04-28 → 2007-07-09
this undid the slide that began 2000-05-02
What happened that day?
- From the low on 28 April 2003 to the high on 9 July 2007, the Nikkei rose 140.04% over 1,033 trading days
- It was the longest and largest up-stretch inside the lost decades
- It started with the banks. The government put public money into the large banks and forced the bad loans off their books
- Once that was done, banks could lend again. Money circulating again is the precondition for a recovery
- China was growing fast at the same time, filling the order books of Japanese machinery and materials firms
- Even so the index did not reach half the 1989 peak. Four years of rising only got it that far
- The stretch ended as US subprime losses came to light
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.