Nikkei 225 · May 7, 2013
The day the yen passed a hundred
+3.55%
single-day change vs previous close
Part of a longer stretch
Abenomics, the first leg
near the end of it · 2012-06-04 → 2013-05-22, +88.38% over the whole period
What happened that day?
- On 7 May 2013 the Nikkei 225 rose 3.55%
- Around this time the yen weakened past a hundred to the dollar for the first time in four years
- A hundred means nothing in itself, but markets use round numbers as markers
- Once one is passed, resistance above it is assumed to be thin and the move strengthens
- This was the main channel of Abenomics: supply money, weaken the yen, and exporters earn more
- Japanese corporate profits did rise sharply that year. The inflation target still went unmet
- The index had been 12.23% below its peak in this stretch
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.