On what date did the Nikkei 225 reach its bubble-era all-time high?

The Nikkei 225 reached its bubble-era all-time high on December 29, 1989. It touched an intraday peak of 38,957.44 before closing at 38,915.87.

The record came at the climax of Japan’s late-1980s asset-price bubble. Easy credit, rising land values, strong corporate profits, and heavy speculation pushed Japanese stocks dramatically higher; the Nikkei had grown roughly sixfold during the 1980s.

The peak is often confused with the index’s record closing value, but both milestones occurred on the same trading day. The intraday high was 38,957.44, while the closing high was 38,915.87. The distinction matters because a market can briefly reach a level and then finish lower.

After the bubble burst, the Nikkei fell for years, reaching a post-bubble intraday low of 6,994.90 in October 2008. It did not regain its 1989 closing record until February 2024, more than three decades later.