What was the last trading day of the Nikkei 225's 1989 peak before Japan's asset-price crash?

The Nikkei 225 reached its 1989 peak on December 29, 1989.

The Japanese benchmark closed at 38,915.87 on that final trading day of the year, its record closing level for decades. The peak marked the high point of an extraordinary asset-price boom involving Japanese shares, commercial property, and urban land.

Easy credit, rising land values, financial deregulation, and optimistic expectations helped drive the boom. When the Bank of Japan tightened monetary policy and rates rose, the speculative cycle reversed. Stock and property prices fell, weakening banks and businesses.

The Nikkei’s decline became associated with Japan’s “Lost Decades,” a prolonged period of economic stagnation and financial repair. The 1989 peak is sometimes confused with the later market lows or with Japan’s broader property-price peak, which occurred around the same period but was not the same statistic. The date specifically identifies the index’s record close.