On what date did Japan’s Nikkei 225 reach its pre-crash peak in 1989?

Japan’s Nikkei 225 reached its pre-crash peak on December 29, 1989.

The index closed at 38,915.87 on that date, marking the high point of Japan’s late-1980s asset-price bubble. Extremely high land and share prices had been supported by abundant credit, optimistic expectations, and aggressive financial speculation.

After the peak, Japanese equities entered a prolonged decline as the bubble deflated. The Nikkei fell sharply during the early 1990s, while Japan experienced a long period of weak growth and financial stress often called the Lost Decades.

The 1989 peak is frequently misremembered as occurring in 1990 because the most visible collapse unfolded after the new year. The date is also distinct from Black Monday in October 1987, which was a global market shock.