Nikkei 225 in 1991

The Nikkei 225 fell 3.6% in 1991, from 23,849 at the end of 1990 to 22,984. Its highest close was 27,147 on Mar 18, and its lowest 21,457 on Aug 19. The biggest one-day fall was −5.9% on Aug 19 and the biggest rise +4.8% on Dec 13.

Change in 1991

−3.6%

23,849 → 22,984

High

27,147

Mar 18

Low

21,457

Aug 19

Up days

112 of 246

longest run 8 up, 9 down

Below record

-40.9%

at the end of 1991

Nikkei 225, daily closes 1991

Numbers mark the events below

Key Events in 1991

What happened, and how the Nikkei 225 moved — on the day (or the next trading day) and about a month later.

1
Thursday, January 17

US-led coalition begins Operation Desert Storm air campaign against Iraq. Source

Nikkei 225: +4.5% that day · +12.9% a month later
2
Thursday, February 28

Operation Desert Storm ends after the 100-hour ground campaign. Source

Nikkei 225: +1.2% that day · +0.8% a month later
3
Monday, July 1

Bank of Japan cuts the official discount rate to 5.50%, beginning an easing cycle. Source

Nikkei 225: +3.5% that day · +0.7% a month later
4
Monday, August 19

Hardliners launch a coup attempt against Soviet leader Mikhail Gorbachev; it collapses within days. Source

Nikkei 225: −5.9% that day · +2.8% a month later
5
Monday, August 19 From the data

Enters a bear market: 20% below its peak of 27,147 (March 18, 1991).
6
Friday, December 13 From the data

Biggest one-day rise of the year: +4.8%.
7
Thursday, December 26

The Soviet Union is formally dissolved. Source

Nikkei 225: +0.4% that day · −4.0% a month later

Biggest days of 1991

Best days		Worst days
Dec 13	+4.8%	Aug 19	−5.9%
Jan 17	+4.5%	Jan 8	−3.5%
Dec 25	+3.7%	Jan 16	−3.3%
Jul 1	+3.5%	Jul 8	−3.2%
Feb 18	+3.5%	Dec 2	−3.1%

Volatility: 21.2% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	23,293	−2.3%	24,069	22,443
Feb	26,409	+13.4%	26,463	23,157
Mar	26,292	−0.4%	27,147	25,882
Apr	26,111	−0.7%	26,980	26,007
May	25,790	−1.2%	26,489	25,391
Jun	23,291	−9.7%	25,913	23,291
Jul	24,121	+3.6%	24,121	22,176
Aug	22,336	−7.4%	24,073	21,457
Sep	23,916	+7.1%	23,969	22,403
Oct	25,222	+5.5%	25,222	23,861
Nov	22,687	−10.1%	25,044	22,687
Dec	22,984	+1.3%	22,984	21,503

Other Markets in 1991

Change over the calendar year.

Market	Change	Year-end
Nikkei 225	−3.6%	22,984
Dow Jones Industrial Average in 1991	+20.3%	3,168.83
S&P 500 in 1991	+26.3%	417.09
Nasdaq Composite in 1991	+56.9%	586.34
Russell 2000 in 1991	+43.7%	189.94
Gold in 1991	−8.6%	$353.15
Silver in 1991	−7.9%	$3.86
WTI crude oil in 1991	−32.8%	$19.15
Brent crude oil in 1991	−37.4%	$17.75
US 10-year Treasury yield in 1991	−1.37 pp	6.71%

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

Nikkei 225 in 1991: FAQ

How much did the Nikkei 225 fall in 1991?

What were the highest and lowest closes of the Nikkei 225 in 1991?

Highest: 27,147 on March 18, 1991. Lowest: 21,457 on August 19, 1991. It closed higher on 112 of 246 trading days.

What happened to the Nikkei 225 on August 19, 1991?

Hardliners launch a coup attempt against Soviet leader Mikhail Gorbachev; it collapses within days. The Nikkei 225 fell 5.9% that day, and was +2.8% a month later.

Data: Daily closes since Jan 1984 (Tokyo). Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.