Nikkei 225 in 1998

The Nikkei 225 fell 9.3% in 1998, from 15,259 at the end of 1997 to 13,842. Its highest close was 17,264 on Mar 2, and its lowest 12,880 on Oct 9. The biggest one-day fall was −5.8% on Oct 8 and the biggest rise +6.2% on Oct 7.

Change in 1998

−9.3%

15,259 → 13,842

High

17,264

Mar 2

Low

12,880

Oct 9

Up days

117 of 247

longest run 8 up, 8 down

Below record

-64.4%

at the end of 1998

Nikkei 225, daily closes 1998

Numbers mark the events below

Key Events in 1998

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

1
Wednesday, June 17

US and Japan jointly intervene to buy yen, the first US yen-support action in over six years. Source

Nikkei 225: 0.0% that day · +12.9% a month later
2
Monday, August 17

Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments. Source

Nikkei 225: −2.2% that day · −5.9% a month later
3
Wednesday, October 7 From the data

Biggest one-day rise of the year: +6.2%.
4
Thursday, October 8 From the data

Biggest one-day fall of the year: −5.8%.
5
Friday, October 9 From the data

Bear market low: 12,880, 43.2% below the peak.
6
Friday, October 23

Japan nationalizes the Long-Term Credit Bank of Japan. Source

Nikkei 225: −1.1% that day · +6.1% a month later

Biggest days of 1998

Best days		Worst days
Oct 7	+6.2%	Oct 8	−5.8%
Jan 16	+6.1%	Sep 11	−5.1%
Sep 7	+5.3%	Aug 28	−3.5%
Oct 12	+5.2%	Sep 25	−3.4%
Jun 18	+4.4%	Apr 2	−3.3%

Volatility: 27.2% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	16,628	+9.0%	17,073	14,664
Feb	16,832	+1.2%	17,205	16,198
Mar	16,527	−1.8%	17,264	16,263
Apr	15,641	−5.4%	16,537	15,395
May	15,671	+0.2%	15,885	15,143
Jun	15,830	+1.0%	15,830	14,715
Jul	16,379	+3.5%	16,732	15,944
Aug	14,108	−13.9%	16,165	13,916
Sep	13,406	−5.0%	14,913	13,406
Oct	13,565	+1.2%	14,296	12,880
Nov	14,884	+9.7%	15,208	13,953
Dec	13,842	−7.0%	14,987	13,707

Other Markets in 1998

Change over the calendar year.

Market	Change	Year-end
Nikkei 225	−9.3%	13,842
Dow Jones Industrial Average in 1998	+16.1%	9,181.43
S&P 500 in 1998	+26.7%	1,229.23
Nasdaq Composite in 1998	+39.6%	2,192.69
Russell 2000 in 1998	−3.4%	421.96
Gold in 1998	−0.8%	$287.80
Silver in 1998	−16.2%	$5.01
WTI crude oil in 1998	−31.2%	$12.14
Brent crude oil in 1998	−33.5%	$10.54
US 10-year Treasury yield in 1998	−1.10 pp	4.65%

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

Nikkei 225 in 1998: FAQ

How much did the Nikkei 225 fall in 1998?

What were the highest and lowest closes of the Nikkei 225 in 1998?

Highest: 17,264 on March 2, 1998. Lowest: 12,880 on October 9, 1998. It closed higher on 117 of 247 trading days.

What happened to the Nikkei 225 on August 17, 1998?

Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments. The Nikkei 225 fell 2.2% that day, and was −5.9% 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.