Which stock exchange saw the Nikkei 225 reach its historic peak on December 29, 1989?

The Tokyo Stock Exchange saw the Nikkei 225 reach its historic peak on December 29, 1989.

The Nikkei 225 closed at 38,915.87 on December 29, 1989, marking the high point of Japan’s late-1980s asset-price bubble. Extremely high land and share valuations had been supported by easy credit, optimistic expectations, and strong corporate and financial-sector activity.

After the peak, Japanese stock and property prices fell for years. The decline damaged banks because many loans were secured by inflated real-estate values. Japan then experienced a prolonged period of weak growth and deflation often called the Lost Decades.

The Nikkei eventually fell far below its 1989 level, but it did not set a new nominal record until 2024. The date is sometimes confused with the bubble’s property peak, since land prices and stock prices did not follow identical timelines.