The closing price of the Nikkei Stock Average on the 15th was 384.15 yen, which is 564.8 yen higher than last weekend, the highest price in 30 years and 6 months since August 1990 in the midst of the so-called "bubble economy". It was.



Since the rate of increase in stock prices has exceeded 1,300 yen in the past week, some market participants are wary that the pace of increase may be too fast compared to the recovery of the real economy.



We have traced the history of stock prices for more than 30 years.

“Highest ever” 1989

1990 = The Nikkei Stock Average has exceeded 30,000 yen for the first time in 30 years and 6 months since August 1990.

That year, Iraq invaded Kuwait, and Nintendo released the home video game console "Super Nintendo."

Japan was in the midst of the so-called "bubble economy."



At the end of 1989, the Nikkei Stock Average reached a record high of 38,915 yen.

“Bubble burst” 1992

However, after that, the stock price fell like a slippery due to the bursting of the bubble economy.

In August 1992, the closing price fell below 15,000 yen, and the Japanese economy will enter a difficult era called the "lost 20 years."

“Financial crisis” 1997

As the sense of stagnation deepens, the financial crisis becomes apparent in 1997 = 1997.

Famous financial institutions such as Yamaichi Securities and Hokkaido Takushoku Bank went bankrupt one after another, and the Nikkei Stock Average fell to the 12,000 yen level in October 1998.

After that, there was a scene where the so-called "IT bubble" centered on the United States recovered to the 20,000 yen level, but in 2001, the global stock market was severely shaken.

"Simultaneous terrorist attacks" 2001

The trigger was the terrorist attacks in the United States on September 11.

The next day, the Nikkei Stock Average plummeted.

At that time, the closing price fell below 10,000 yen for the first time in about 17 years.

“Iraq War” 2003

Furthermore, when the Iraq War began in 2003, the Nikkei Stock Average fell to the 7600 yen level due to concerns about the future of the world economy.

“Lehman Shock” 2008

After that, the price returned to the 18,000 yen level while repeating ups and downs against the background of the gradual recovery of the economy, but in 2008, the Lehman shock from the United States hit directly.

Due to the unprecedented global financial crisis, the Nikkei Stock Average temporarily hit 6994 yen during the trading hours in October of that year.

“Lowest price” 2009

The following day, the closing price on March 10, 2009, 7054.98 yen, was the lowest price after the burst of the bubble economy.

Even after that, the Japanese economy faced many hardships such as the Great East Japan Earthquake, the historic appreciation of the yen, and deflation with no visible exit, and the domestic stock market fell into a long-term stagnation.

Expectations for “Abenomics” 2012

However, in 2012, a large amount of money from overseas will be collected in the Tokyo market.

The economic policy of the Abe administration at that time, so-called "Abenomics," raised the expectations of investors.

“Highest level in 29 years” 2019

The Bank of Japan's large-scale monetary easing, which exceeded market expectations, was called "Kuroda Bazooka" in the name of the president, and stock prices turned upward.


As the economy continued to recover, the Nikkei Stock Average on December 30th was over 23,600 yen.

The closing price at the end of the year was the highest level in 29 years at that time.

“New Coronavirus” 2020

However, last year, the unexpected situation of the spread of the new coronavirus shook the stock market.

In March, the Nikkei Stock Average fell sharply by more than 1,000 yen, and at one point the price dropped to the 16,000 yen level.



In response, the Bank of Japan has decided on additional easing measures such as doubling the amount of ETFs = exchange-traded funds purchased by collecting multiple stocks.

The Federal Reserve Board of Governors, which is the central bank of the United States, and the European Central Bank have also strengthened monetary easing measures one after another, and stock prices have recovered their upward trend.

And at the end of last year, the Nikkei Stock Average rose to more than 27,500 yen at the closing price, setting a new high after the burst of the bubble economy.

The difference between the high and low prices of the Nikkei Stock Average for the last year exceeded 11,000 yen, and it was likened to a "roller coaster."

“Distance from the real economy” 2021

A state of emergency was issued early in this year, and despite the fact that the convergence of the new corona remains uncertain, stock prices have risen to the level of the bubble economy in a way that expectations preceded. In particular, some market participants are wary of the fact that the gap with the real economy is further increasing.